I think that the rotary may work better (Though I find them to be a bit of a pain on my wrist).
Just before I logged on and read this post, I was testing out Ikari and Caliber 50 using a flightstick for motion (with trigger and thumb button for fire and grenade) and I used my spinner for rotation of the guy.
I found it a little weird to use it that way but I guess you could get use to it.