Ok, so to continue my almost (apart from Van!) solitary thread, here is my take on the FragFX V2 ...
It comes with firmware version 1.0. For the people who don't know what firmware is (I'm not preaching to you guys, I'm talking about other customers of this product), I dread to think what they'd make of the controller. Out of the box, the movement is incredibly jerky and the special "frag" button, which slows down the mouse movements for precise shooting, didn't work at all. I thought I had bought a dodgy ebay product, it sucked that much!
After that first play through the Killzone demo, as someone who has never got to grips with FPSs using a gamepad, I honestly think I could've done better with the gamepad. It was THAT crap. Since it'd got such good praise online, I was starting to wonder if I was just a complete dexterously challenged fool. Luckily though, I knew Spitfish were actively updating the firmware, so I hoped that extended to just fixing software bugs.
After navigating their rubbish website, I downloaded a firmware update tool, which subsequently didn't work. It was throwing up errors, and Windows kept popping up trying to install new hardware for the device during firmware flashing. So I had to do some googling to get help! Eventually, I happened across a post on a forum by a spitfish employee, who explained how to get it flashed. Finally, after 15 mins or so of messing around, I was updated.
Plugging the thing back into the PS3, I noticed an immediate difference. The mouse finally behaved a lot like a mouse. It moved proportionally, where previously it had moved like it was having a fit. Not only that, but the frag button finally worked, and it was damn useful. I found I could quickly point at different objects in a static scene quite precisely.
So I played through the Killzone demo a few times, and got the hang of it. I can say two things about it now. It's not as good as a PC mouse by a long shot, but it is substantially better than a controller. The only negatives (once it's finally setup correctly) is the old 'picking your mouse up' thing you have to do to keep turning round and round.
My conclusion is, if you're happy with your gamepad, then it's not worth it, unless you're a mega hardcore FPS player and want the best interface you can get. If you find yourself getting frustrated with the gamepad, it'll make a massive difference.