I'm bringing this thread back, as I just discovered my favorite way to control this game.

My wife, being the dear she is, purchased the Street Fighter IV arcade stick for me for Valentine's day. Showed up early, so she gave it to me.

Wow, once I had a good button layout, this is my new favorite way to race. The joystick being used as a flight stick is really nice. I get the precision of the d-pad with the free movement of the stick. Also, I can have my fingers on the buttons ready to brake, fire and absorb without ever moving my hand. I just set all new lap times for even my best scores in SL.

I highly recommend you try this out if you ever get the chance. It feels very strange at first, but give it a little time and I doubt you'll walk away anything but pleased.