I have one Universal on my CP. I use it as a dedicated 4 Way. I am very happy with it in that function. However it has a very short throw, so I wouldn't like it for any 8 way fighters.
In 4 way the feel is very diamond shaped, I also pop the bottom off, loosen the nut, turn it 45 degrees, and tighten it all back up for a quick changeover to a game of Qbert.