TL;DR
It is reported to be a very nice, well built customizable controller. Comes with swappable sticks and D-pad. Change range of motion on triggers. Program exponential into the sticks. Change dead zones. Change all the button and stick mappings. Overwhelming amount of settings on screen.
Other option is to custom order a controller at https://scufgaming.com/ . I put all the options on a Scruf Xbone controller and it came out to almost $400 (was that CDN$? shrug.
The TL;part:
Why is it so expensive? Why spend half the cost of a console on controller? At that price why no charge and play included? Why the standard Xbone controller a step back from 360 controller. Why Xbone controller feel so cheap? Buy 3 controllers for price of 1. MS creating demand intentionally with no stock. Reports say back in stock for spring.
And on and on and on......I'm way behind on my Xbox budget and Nana and Popa said here's a C note for Xmas. So I get Elite controller subsidized.
I know what exponential is from RC controllers. This crappy vid is the best explanation I think. It requires some brain power to comprehend at first, But then you'll be 'oh, I get it!' https://www.youtube.com/watch?v=skU51E5ilG0
And apparently the Elite has programmable Expo.
I can see Expo being good for my old stiff thumbs. It's really good for Fast RC Planes with fast control surfaces. It slows down the travel of the control surface with out losing range of motion. Watch the vid to understand.