I bought a MagStik Plus with ball top from Ultimark:
http://www.ultimarc.com/controls.htmlWhen it turned up I was extremely disappointed because it has a very small throw, and I was used to considerable slop in my previous joystick. Because I spent so much on it I thought I better give it a try. One week later I realised it was the best thing that I had ever bought and also increased the quality of my game-play because it is a very accurate stick to use.
Switching between 4 and 8 way is done in a second by pulling the joystick up and twisting it 90 degrees, and I've found it excellent for both 4 and 8 way games. Durability? Well it hasn't snapped off in my hand yet, but then I'm not really a hardcore user.
Like I said, it's only got a very small side to side movement, so it's not for the person that swears by a floppy stick, but having had both I know I would never go back.