Not only was the graphite pad the same material as the factory pad, but it also had the best performance for the money.
If you're planning on replacing the thermal pad on your controller, please keep in mind that graphite is a pretty fragile material. It is easily bent and creased. Before I did any cutting of the new material, I did some test cutting/hole punches with the old pad to get a feel for the graphite.
I placed the heatsink on one of the corners of the new pad and used a utility knife to cut the two sides while pressing down on the heatsink so that it wouldn't move. I maintained pressure on the heatsink and traced the four mounting holes of the heatsink onto the graphite sheet with a pencil. Once that was done I lifted the heatsink from the graphite sheet and used a hollow punch to make the four holes. I used hole punch that was slightly larger than the heatsink mounting hole to allow for my holes not aligning perfectly. I'm glad that I did. I ended up needing that buffer.
I was originally planning on using a hammer to strike the punch on the graphite sheet but found that pressing down on the punch with my hand worked just as well. Make sure that you place the graphite sheet on a firm surface before using the punch. Once again, it's a good idea to practice on the old thermal pad to get an idea of what works best.
Using the graphite sheet with the adhesive backing was good and bad. I liked the fact that it stayed in place once it was applied, but it was really difficult to remove the wax paper from the graphite without bending or creasing the material. I also had to be careful not to leave any bubbles/air pockets between the heatsink and pad. Using the graphite without the adhesive might be a better way to go.