So Scott asked me to try this with a Aimtrack to see if it works.
Now I have to say before I start I have NEVER played this game before so have nothing to compare it to or even know if I was playing it right LOL
That being said I can confirm that with some tweaking of the analogue settings this can work.
Basically I had to adjust the speeds a little for my taste and I had to invert the Y axis as it was going up when I was aiming down which is fine for a fighter jet but its to much of a head ---fudgesicle--- for a light gun LOL
Anyways after doing that I was able to fly around while aiming like I would normally, Which to some degree is the only problem I faced.
Because I have to stand so far away from my screen (Which is only 19" and has dark plexi over it) I could not see the cross hair of the ship so good as its dark green on basically all black.
Going down the tunnel was easier for me due to the colour change, So if you can brighten up your screen a bit or have good ideas yeah it seems to work fine.
Hope thats some help to you