Meh, there's not really anything wrong with the Playstation controller once you get used to where each face button is located.
That is of course except for the fact that they haven't really changed the design of the bloody thing in 15 years. All they've really done is glued on extra bits, so the analog sticks are not comfortably placed. But I'd rather use the directional buttons for 2D games anyway, so I guess I should be thankful that I have the choice. I have a Wii and a PS2 so if a game was available on both PS2 and GameCube, I can decide what version I want based on whether it's a 2D or 3D game to coincide with the controller.
I just find it awkward playing games like Ratchet and Clank which are PS2 exclusives but fully in 3D. Using the directional buttons feels weird in such a game and to use the analog stick you have to reach down instead of letting your thumb rest naturally. It's not like this is a deal breaker on the system itself but it does mean that the GameCube and X-Box controllers were better for 80% of the games of that generation, with the exceptions being 2D fighters and anthologies of old school games. (Okay, well the original X-Box controller was about the size of a car, but it wasn't that bad once I stopped laughing at it).
Anyway, I'm guessing that since the current PS3 controller looks pretty much exactly the same as the PS2 controller, Sony either are convinced that the analog sticks they tacked on 12 years ago perfected the overall design of the controller, or they're afraid that by doing anything different at this point they'd scare away their fanboys.