..and that's a WRAP.
Would be convenient for home use, but I could see such a thing being banned at tournaments. Plus you'd have to consider lag.
From experience with community developed BT boards, lag is not a concern. But it is not something that's tourney-suitable because if permanent pairing.
At home, it's great and one of the main reasons the PS3 is my main fighter platform. Mine is in a Hori fighting stick 3.
Good on Hori for continuing to try new things.