@monkey_seeker: Finally a Educated guy talking proper technology stuff ! So mate, I dig in and bought the controller already and yes its the newer iteration.
I have gone with Bluetooth one as its simple to connect to PC and I don't use headsets, as I am too happy with my Bose 5.1 setup :)
Also, I can confirm that all trigger rumbles work over Bluetooth as well.
PS: Thanks a lot for fantastic explanation with illustrations. Hopefully somebody in the future will benefit from this post.
Ah ok they must have fixed that then. I did wonder whether it was a bluetooth limitation (like with the no audio or one controller paired at a time) or was just a driver or firmware issue.