I have one and DO have rotaries in it.
What I've noticed.
1) You really want to use Analog+ now that it has single button to turn... Without it, the length of time you hold down the button is when it changes... And you have a BUNCH of trouble trying to get the right timing.
because of this, MK64 actually holds down the button ('l' or 'r') for a set amount of time. With analog+ you set this time down to 10ms and it works great.
2) All around its great! I think the software could use some updates myself but it all works. Nothing graphical, but it works fine. You don't change these often anyway. So I have 5 or 6 text files that control each of my control panels. Run one command and they all change.
I don't use shift keys myself. You can, and I've tested it... but I have enough inputs not to need another set... easier to just put on another button.
I haven't used any of the 'moves' there is a scripting language for letting it do combinations of buttons. I want to play with this to get out of some programs (vpinball, you could send a esc-q-enter-alt... whatever)... But again, not played with it yet.
Last... Its not the easiest to cable. It doesn't have a nice screw in block. But for me, that was better. I already had some break out boxes that I wanted to use. So you cut a scsi cable and a ide cable and use that. Works fine.
But all in all... would I buy it again? Yes! I love it!