I just don't understand the sudden hoopla about a two-piece controller. Despite the unavoidable power and control issues, it just doesn't seem to make much sense. Seriously, a controller configuration of that nature would be a terrible strain on the hands and wrists. For a short period of time, sure it would be fun. But a controller like that would make gaming for any long period of time physically painful, and detrimental to your health in the long-term (carpal-tunnel, hello). It would kill long-term gaming (seriously, why do you think the Time Crisis games are so short? And the level of steadiness required to use a simple guncon would be nothing compared to what would be required to use the controller that some of you are proposing).
I'm sure if Nintendo really wanted to go that route, they could pull of a controller that would be decent. However, that alone would require the same amount of planning, R&D, and funding that they probably spent on the Revolution, itself. And, if they're willing to cut something as simple yet relevant as HD out of the budget, I doubt they found room for something as undoubtedly costly as this.