I'd imagine a spinner would be easy to get used to if you were a Blasteroids fan.
I mean the translation in software from optical device to a set of buttons. Might be tricky, though possibly done before, never tried it.
It currently works in mame (0.117) and has for a little while; spinners can be used as any digital input now. You just have to remap the spinner to the buttons the normal way (tab); the spinner has to be spun fast enough, but not too fast, for mame to remap to it, though. The only spinners AFAIK that are able to be spun too fast easily are the Turbo Twist 2, SpinTrak, and hacked arkanoid spinners. If you're not using these and it's not remapping, you're most likely not spinning fast enough. Sometimes it's easier to hand edit the cfg file.
However, since the spinner is faking as to buttons, you won't get any exact spin speed control. The ship will spin at a constant rate, just like as with buttons; IOW, spinning the spinner faster will not spin the ship faster.