No, I wasn't fool enough to own one of these things. From what I've heard, it did not allow you to punch out Bald Bull with your own fist as advertised. But I read about Microsoft's Project Natal, and I'm inclined to agree with Sony and Nintendo that there needs to be some sort of controller to formalize the state of game. I don't believe wands are the answer, so perhaps it's time instead to revisit the motion control glove.
True, the Power Glove was ugly and terrible, but people keep comparing Natal to the post-keyboard computer from Steven Spielberg's Minority Report. Everybody seems to forget that Tom Cruise wore high-tech gloves to interface with the floating screens. In tandem with something like Natal, a glove controller could be the perfect compromise. You could still have the versatility of hands-free input, while also providing the satisfying feedback of something tangible, and, better than a wand or remote, it would even allow you to hold another object while using the glove.
In fact, I bet somebody's already working on this. And when it arrives, there will be lawsuits, yes, but we can probably expect those to occur no matter what forms the new technologies take.