It's supposed to be out this month, more precisely to coincide with the launch of forza 4. You won't need kinect because i imagine that sensitivity will be controlled through the use of accelerometers and whatnot. Don't ask me for sources because I'm recalling all this from various articles I've read in the last couple of months.

It certainly is a beautiful controller. I'm quite keen on getting it myself and i'm wondering if it will work on daytona usa as well which is out on oct 26 on xbla.