I own two of those joysticks you listed in the 2nd link. That's the same guy I bought it from too...
They are nice little sticks for the price, but at the same time, have their flaws. For one thing, the opening at the top is square. This makes 8-way use feel awkward cuz you can't move the stick in a proper "circle" (instead you really feel the corners of the diagonals).
They ARE modifiable between 8, 4 and 2 way, but it's done with that yellow plastic restrictor on the bottom. The restrictor is a little flexible, and as a result, you CAN force diagonals when in 4-way mode. I imagine this restrictor probably gets damaged easily.
Even though I said I HAVE 2 of those, they are sitting in the box un-used. They are very "clicky". If you've ever played on a japanese cab, that's the kind of joystick this is. ("Sanwa" knock-off I think).
~Ray B.