It should work just fine with the Keywiz also. As long as you can get 5V to it.
As far as using it as a 4 way, it works great, but a lot of people prefer a joystick that actually phisically limits the diagonals (restrictors). Thats just a personal preference though. I think the P360 feels funny in 4 way mode, since its so smooth on its axis, yet it still does a good job.
-Stobe