At $150, the Xbox Elite Controller is far from being an affordable option. But, it's an ideal one for those who thrive on being able to greatly customize their gaming experience, either from a hardware or software level. Microsoft is not ignorant of the fact that most people are not going to shell out 150 clams for the top dog controller, though, so it's decided to show some love to those using the regular gamepads by porting over one of the Elite's most sought out features: button remapping.
As you might expect, there are some caveats to be aware of. After all, Microsoft is still wanting to give people a reason to at least consider opting for the Elite controller.
With this update, users can remap their controller buttons, swap thumbsticks and triggers, and invert the Y axis on the thumbsticks. The Elite retains exclusivity to being able to remap the same button multiple times, and of course map its paddles to buttons.
It's also worth noting that the Elite controller can store up to 256 profiles per user, whereas the standard gamepad will only be able to store one. Further, the Elite allows adjustable sensitivity on the thumbsticks and triggers, and can accept preset configurations from 1st party publishers. And, if it matters to you, Elite also allows you to adjust the brightness of the Xbox button.
If you're looking for this functionality right now, make sure you've updated to the "New Xbox One Experience", and it will become available to you.