Faulty Playstation 4 DualShock 4 controllers - The ongoing saga

Since getting a launch day PS4 console (29th November for those of us in Australia) I have gone through 3 faulty controllers. Seems I'm not the only one either:

NeoGaf discussion -  http://www.neogaf.com/forum/showthread.php?t=71116

Whirlpool - http://forums.whirlpool.net.au/forum-replies.cfm?t=2199377

It looks like there are 3 main problems with the faulty controllers, and yours may develop one or all of the issues described based on use.

1) Peeling rubber on the analog sticks - This seems to be the most complained about issue. It looks like certain controllers have a problem where the rubber on the analog sticks is not sealed properly and erodes through use. Eventually the rubber will thin out to a point where it will split and then the rubber will start to completely come off.

2) Sticky shoulder buttons (R1 + L1) - This seems to be a very common issue too and pretty self explanatory. It looks like some people have fixed this issue by getting rid of some dirt or grime caught between the button which caused the problem:

http://www.youtube.com/watch?v=fRu3qKcUECk

http://www.youtube.com/watch?v=PyFqkm7oIEk

3) Broken R2 / L2 trigger - This one has less complaints but is the very issue which affected all 3 of my controllers. Again it looks like some dirt or grime is the culprit as it sits inside the trigger button and underneath a spring. The friction of the spring on the grime seems to eat away at the plastic hinge holding the trigger, eventually breaking it.

So what can you do?

If you live in Australia, you are entitled to return your controller at the place of purchase for a replacement. We have contacted Sony Support and this is their official response. If any retailer declines remind them of their obligations under the new Consumer Protection Laws.

In the meantime, I also suggest some grips for your controller. You can pick up some decent ones for cheap on eBay. Personally I feel this isn't really something I'm happy with but I really want to avoid the hassle of any more returns. 

Hopefully you've got yourself a working controller, or if you didn't, managed the get it swapped for a fault free one. I'm on my fourth controller now but this one appears to be a good one. Let us know in the comments if you have experienced any of the issues described above, and how well you feel Sony have handled them.