I just received this adapter today so I cannot really comment on durability or those home button issues that many other reviewers have had. The adapter works as it should and is really plug'n'play, simple as it can get.
The only flaw I've found so far is vibration. Yes, I just said VIBRATION. Either PS3 and 360 controllers handle vibration in a different way or this adapter somehow changes it, because when using 360 controller all PS3 games that have lots of vibration(e.g. MX vs ATX Reflex, Motorstorm Pacific Rift) make my hands go numb.