I've been using Servostik and Sanwa JLW in my arcade for about 3-4 years now. Pacman is my game of choice .. You won't be disappointed with that combo.
Sanwa JLF is NOT good for 4 way pacman, its too easy to hit the diagonals even with restrictor
Here's a pic of the placement - I've just purchased some shorter screws for the joystick mounts so they don't get close to the microswitch terminals, and I've just got some 2.8mm spades so the connection on my buttons is better
Note - the joystick isn't centered in this pic, its leaning against a surface so pushing down.
The two buttons on the side switch from 4 way to 8 way. You can get fancy and use a program to do it, but I went the easy way and just wired up two buttons.
The holes are for my cupholders
I play mostly 4 player games. Tetris / pacman / donkey kong / space invaders (2 way lol)
Hopefully that helps you .. let me know if you have any more questions