Thanks Bad Mouth. I guess the root of the question is, will the fact that they are showing as gamepads impact my ability to use emulators?
It varies by emulator. It will work fine with MAME, PCSX2, Demul.
You might have to do an xpadder workaround for older emulators, but there are usually alternative emulators that support controllers.
As far as I know the Taito type X games only work with one controller, so a workaround is required for the 2 player games.
There are a lot of different versions of the games and loader out there though, so it could just be that way with the old ones I'm using.
Nothing works for everything out of the box. IMO if you aren't going to use consoles, the keyboard encoder paired with the x360kb files from the stickied thread in the software forum is still the best option.
....unless you require it to play MKX. Then you must have something that shows up as a controller, preferably an xbox360 controller.