That joystick is meant for a 1/8" metal cp. HOWEVER, do NOT buy that joystick, mount it in MDF and get a replacement stick from groovygear as someone else suggested to me. What you end up with is a stick that is TOO LONG. I found out the hard way.
What I did is routed a bit deeper...I have 3/4" mdf and I probably routed to almost half an inch. Some might say I'm risking it, but it gives the perfect length on the stick and I had a friend of mine come over and beat the hell out of it in Ms Pac Man and it help up fine.
if you don't want to deal with all that, then don't get that joystick. It IS a nice joystick however....