Good news! I got the encoder board and got player 1 wired up. Moon Patrol is so much more fun with the actual controls! Going to play more later.
Bad news: Some of the wires in the included harness are too short to reach the other side of the CP for Player 2. From what I can tell these are single-strand wires, and I could theoretically get some wire of the same gauge and my soldering iron, solder patches in the middle and cover them with heatshrink. Wires are already set up with the right connections for the encoder, I just need more LENGTH!
Thoughts?