To answer the original question, I was seriously considering U360s at one point, but the cost killed it for me. 2 U360s plus stiffer springs and restrictor plate kits costs $152. I decided that was just too much money for 2 joysticks, especially considering I wouldn't get the hardware restricted 4 way feel, which is somewhat important to me. The fact that they essentally have a built in encoder offsets the high cost a bit, but not enough for me to get them.
Having said that, if I were ever doing a 1 player cab, I would probably get one. The cost wouldn't be a terrible lot higher than a good 4-8 way switchable stick plus encoder, and I would have the convenience of not having to manually switch, a good stick for Qbert, and an analog stick.