I always swap out the first four default MAME keys (CTRL, ALT, SHIFT, SPACE IIRC) for something else (V,B,N,M).
I haven't run into any issues with the bracket keys [] on player 2's side.
I don't see a need for vjoy.
IMO, using these keys and then using x360kb for games that are designed for xbox360 controllers is the way to go.
You can find the x360kb files stikied in the software subforum.
Can't help you with all they Hyperspin/Hyperlaunch stuff.
I don't like my front end changing my mappings or settings.
It's just another layer of something to get screwed up.
I prefer to get the emulator working properly by itself and then just have the frontend launch it (and nothing else).