I am not familiar with the gamepad you have, nor do I know why all 3 terminals are hooked up (although I seem to remember this is the case in a SW yoke too)...
Anyhow, I have just hooked up a 100k pot directly to my gameport for use as a paddle / 270degree steering wheel (kindof). In order to check what resistance the pot is, you need to test the resistance between the centre in and one of the others. With the pot fully 'closed'/off it should read close to zero, and the other way should read ?? what ever depending on the pot. Having said that I just put a multimeter to the two outer pins on my a pot and it gave roughly the same reading. I guess this makes sense...
Read here, this site is very helpful
http://www.gunpowder.freeserve.co.uk/wheels/potworks.htmI guess with that said, it sounds like you have 60k pots. I think this is because your pad probably has circuitry to make it work with the 60k pot - the pot only has to be 100k if hooked DIRECTLY to a gameport.
So I think you have a few options to hook your Happ wheel up:
a) Use one of the pads 60k pots (extend it on wires) on your Happ wheel,
b) Assuming the Happ wheel has 5k pots, you could hack it to a dual strike (see 1Up's SW yoke hack),
c) Put a 100k pot on your wheel, and connect it to your gameport (you can get a USB adaptor if USB is essential)
I personally think c) is probably the easiest/cheapest, but then you already have a pad to butcher so it's up to you...
Please someone correct me if I'm wrong on the above stuff...
Good luck!