I forgot about the cabling bug, thanks W32Blaster. This is 'reversal' bug explained:
Unless you can get your hands on MSFF2, I would recommend getting T.16000M from Thrustmaster. It features the same Hali magnetic sensors like in the much more expensive Warthog HOTAS.
From various other sources I would recommend that you stay away from Saitek. Their build quality is questionable.
If you can afford it go with the Warthog HOTAS, I know I intend to. Reviews at SimHQ:
PART 1 &
PART 2
PS: You will need a set of pedals to go with the Warthog as well.