I have a 60 in 1 cab with a Magstick and I finally got tired of having to help folks playing the game try to find the just the right spot to switch back and forth between 4 and 8 way settings. I looked around online and found good reviews here and elsewhere about the ServoStick so I ordered one minus the control board since I don't have a MAME setup to take full advantage of all of the board's capabilities.
Delivery of the ServoStick was extremely fast considering that it came fro the UK to US. There were no instructions in the packaging so I needed a way to allow the user to flip a switch on the top of the control board to switch back and forth between 4 way and 8 way. I thought about building a 555 timer circuit to control the motor but I had concerns about folks quickly switching back and forth between 4 and 8 way before the timers had a chance to fully run the motor in a cycle from one end of the traverse to another. I figured that the arm could get stuck in some intermediate position between both ends of the arm traverse. I decided that a mechanical and electrical setup that gave positive feedback to the circuit that the arm had fully run its course was the way to go.
I went to Radio Shack and picked up a DPDT switch as well as a couple of NC roller switches. The roller switches were mounted on top of piece of maple and secured just behind the Servostick arm so that the arm contacted them shortly before the full length of travel..

The circuit that I built is this one:

I used LEDs as diodes and as you can see in the following video the LEDs "light" when they are forward biased. This only occurs at the beginning of a traverse between 4 and 8 way positions, you can verify this by checking out the circuit diagram. The motor for the ServoStick has quite a bit of torque to it so there is a single switch bounce at each end of the motor's travel.
YouTube video:
I also added lighted control buttons as well as a lighted joystick top. The tracball lighting is detailed here
http://forum.arcadecontrols.com/index.php/topic,148753.msg1551014.html#msg1551014. The joystick LED was RBG so I installed a white LED into the top and I also had to tone down the brightness of the Button LEDs by adding resistors, here is the final product.

Now I need to get new graphics for the CP to spice things up...