I've been working on a stick recently. I bought a joystick that's PCB works with these out of the box (also allows me to assign auto-fire to any button and has a LED that lights up when any button or joystick input is registered):
PS1 and 2
Saturn
SNES
Mega Drive
3DO
I have a saturn/PS2 converter for my dreamcast and a PS2 to USB convert for the PS3.
I wired up direct connections to another controller port (neogeo style) on the back. Basically I have two of these on the back now. One goes to the PCB in the controller and the other is directly wired to the buttons and the stick.
Now I thought I might have to worry about the PCB being in the loop and installing a switch to cut the PCB out of the loop, but NO it work great without the switch. The PCB doesn't effect it at all. I was very happy about this.
So in short I have a stick that works with:
PS1, 2, and 3
Saturn
Dreamcast
SNES
Mega Drive
3DO
Neo-Geo
and my SuperGun
I have a second controller on the way with the same PCB to make a second one.
I'll post a pick later on to show what it looks like. I have sanwa buttons/stick in it, all red with a black casing (had to use vinyl die on the casing to get it black).
SUCCESS!!! universal joystick!!


The top socket I added for the supergun and neo-geo. I used a spray on vinyl die for the black color.
I haven't noticed any lag, I played KOF 98 UM on the PS3 for some time a few nights ago and didn't notice anything. I played through Strider 1 on PS2 also and noticed none either along with Samurai Spirits 3 on saturn. As far as I can tell there is none.
It's an Innovation Fighter Stick V (5)