Happ Super Joysticks can be 4-way or 8-way depending on which way you flip the actuator at the bottom of it. Go to
http://www.happcontrols.com/joysticks/50608400_exploded.htm and look at the top picture. The second piece up in the bottom left that looks kind of like an hourglass is the actuator. Basically, if the fatter end of it is the end that's facing your joystick, it'll be 8-way. Doing diagonals with most any joystick isn't doing a "true" diagonal, meaning that there isn't a separate switch for going up and right - you're actually hitting the "up" and "right" switches simultaneously.
In MOST cases, you will want your sticks to be 8-way, simply because having them 4-way will mean that you will not be able to move diagonally in any game. The time when 8-way is a pain in the ass is when you are playing a true 4-way game. For example, in Frogger, you only WANT to be able to move up/down/left/right, but hitting a diagonal movement accidentally can happen. This is why some people choose to put a dedicated 4-way-only stick on their control panel.
I'm not sure about the Trust/Sidewinder hack, but I hope this helps to explain the difference between 4-way and 8-way. In summary: regardless of if your joystick is 4-way or 8-way, you'll still only have 4 switches (up/down/left/right) wired to it.