A tipster dropped this off in our mailbox this morning without much speculation. Apparently what we have here is a controller designed for use with Kinect, one that gives the player access to all the buttons you'd normally find on an Xbox 360 controller.
The trick is that all those buttons are accessible with only one hand.
The way we've interpreted the design fits the controller in the player's hand like a wide, flat joystick. The document our tipster sent in states that Project K is roughly the size of a smartphone. With your hand wrapped around Project K, your finger tips would have access to normal face buttons while your thumb would use an analog stick on top of the device. Here's a key to help you grasp this controller's design:
1. Analog input located here.
3. Bumper located here.
4. Trigger located here.
5. A,B,X,Y buttons located here. Two buttons per Project K controller so that two controllers are needed for both A/B and X/Y.
6. Safety Strap so user can safely open and close hand during use.
7. On/Off, rechargeable battery, power connector, dual/single controller switch.
8. Forward facing LED illuminated for visual Kinect recognition.
With Microsoft having sold a Kinect unit to everyone but the hardcore gamer, Project K could be an attempt at deeper integration of the device in games that need a few more buttons and triggers. If Project K also helps improve the motion camera's recognition of the player's motions, it could increase the confidence the hardcore has in the device.
Remember that until Microsoft reveals any official plans for a Kinect-centric controller, this will remain firmly in rumor territory.