I don't normally go for special edition peripherals but I had to get myself one of these, it looked so good. Works in much the same way as a standard controller with a few minor differences.
There are two,
a) The transforming D-pad. To be honest I'm not sure why it needed to be changed or whether this change actually improves anything. As far as I can tell it works exactly the same and feels the same. It's not really a selling point to me.
b) The sticks have a different rubberised bezel. Instead of a smooth surface with a few dots on the rim to help keep your thumbs on the sticks they have a lip that is a big improvement over the previous design. It helps grip massively. The old ones would wear those dots down very quickly & I can see these lasting a lot longer.
Only the front face is chrome, the back and area around the microphone port are both standard black edition. So don't go expecting the entire thing to be chrome.
The blue model is slightly darker than it appears in the picture. Shall post my own photos to show this.