I held that controller in my hands in the store and it was heavy as hell. It turned out that they mounted a huge metal structure on the back to make sure it doesn't get stolen. How am I supposed to get a feel for the controls if the controller weighs 30 pounds???

no

What do you think is the ultimate hardware hack project?

I had this idea: Take a small portable B&W TV and turn it into a XY vector monitor controlled by arduino. Then add a soundchip from a cheapy casio keyboard (which only reads keystrokes from the patch buttons) Use a calculator for the control buttons. There you have it: the Hacktraxio. (derived from vectrex, hack, casio and axe )

Now you guys!
(I might steal some of your ideas, so tell me if your cool with that or not.)

I could do some artwork for the titlescreen. Or is there another artist working on this project yet?

Is there a way to export these lua programs to a text file (and load them from a text file)?

To get rid of this problem forever: get a 5v power supply and hook it up to the battery compartiment somehow (remove the batteries though)

It took me a while just to get to the point that I was able to make my soundchip. It takes a lot of experience aquired from smaller projects (still pretty complex I pushed myself to the limits as well.)