Not sure how well it's gonna' work out, editors are pretty finicky with controllers, but there were never any real exact controls required in KSP because every movement was controlled with arrows and wasd iirc. It'll be interesting to say the least. My only real concern is I'm not sure how they'll fit all the control keys onto the gamepad! Edit: Oh wait.. Completely forgot, xbone is getting keyboard+mouse support so.. The game should work fine actually, the console can certainly run KSP.
If you're plugging a keyboard/mouse into the console, why wouldn't you just play it on PC? I know KSP isn't the lightest of games but it's not Crysis. Any mid-range PC should be able to run it.
Consoles are cheaper for what you get- really, prices at 349$ the only PC you'd get at that price would be a lackluster Desktop or a very bad laptop. (4gb RAM in the desktop, Intel HD graphics, etc...) The games however are really high priced- which is how MS and Sony makes their money. (Outside of their online subscriptions of course)