I don't think so, at least not if you're planning to play it on the PS3..
It's not so simple as the joysticks come with 2 modes for a reason. Now, I don't own the PS3 av8r but I very much suspect it works the same way as the xbox360 one. In "console" setting, they joystick tries to mimic the gamepad, something that does not transition well if you try to use it on a PC (or try to use the PC setting on a console).
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