I can't answer your question, but I have to ask "How come I've never heard of 'set49mode' before now?"
I found TH's page the other day and it was the first time I knew this software existed. I searched the forums here and found some mentions of it, but it almost sounded like the development just stopped or there was no interest.
I haven't installed it yet, but set49mode seems like a GREAT way to utilize a 49way stick automagically and I'm surprised that nobody ever mentions it.