The GP-Wiz40 has 40 inputs. 8 of those inputs are set up as 2 digital joysticks and the rest are for button inputs. However, there's nothing keeping you from using 4 or 8 of those inputs for 1 or 2 more joysticks. Also, this interface has a feature that allows you to use it for rotary joysticks (think Ikari Warriors) if you want. I've been using the 32-input version of this encoder for years without any complaint.
From what I read, the KeyWiz40-ST has 40 inputs and, in addition, 32 of those can be used with the Shazaam! button to add more capability. I wouldn't call that 72 buttons, though. Anyway, I don't read that 8 of the buttons are not usable. I think those are just the 8 inputs used for the 2 preconfigured joysticks.