Between $350 and $400, and coming out late October/early November. Plus some possible hardware and design specs. Nintendo hasn't commented on this, so who knows if it's true.
Source

Size is comparable to an original Xbox 360, and the touch screen on the controllers deal is being reaffirmed.

Edit: rumor

-Anon

URL to share (right click and copy)

I think most people are missing the point of the new controller.

I think it will have the lobby and friend information on it while you are playing a game on your console.

Similar to the 3DS. You can get messages and chat with your friends while playing a game.

Otherwise everytime your bonehead friend said "wutz up!!" you would get kicked out of Metroid Prime or whatever game you are playing.

I *Think* Nintendo is trying to let players all be connected, even if they are playing different games. The icing on the cake could possibly be "Join now" or "speculate" or send a short movie of a boss fight you just completed or a screenshot.

Now take that and seamlessly tie it into a 3rd party share program like you-tube, and you have a CAFE experience indeed!

This was the best Cafe thread. It also had the best pics.

Finlos' scale pic doesn't make the controller too bad at that size.

New rumor is that the controller contains a front facing camera.

Seems like the obvious use would be for online. Maybe while you're playing a multiplayer game it streams your face to the other person's controller so you can see him while you play? I feel like the angle wouldn't be right, though.

@Jargon
I just read this and instantly thought it'd be AWESOME for character creation like Mass Effect, Fallout, Elder Scrolls, COD MP, etc. It'd need good support though.

I worry that if this controller has everything but the kitchen sink then it (the system itself) won't be as powerful as I'm wanting it to be.

The camera would need to be well supported to warrant its existance is the bottom line.