I've used 4 I-PAC's in 4 different machines and they all work Great!

I've made the use of the I-PAC's simplistic as possible because if you re-program the I-PAC after using each different emulator, then back to a front-end, it takes 3-5 seconds for re-programming and for some reason, that is just too long for some and if you move the joysticks or press any buttons during re-programming, then the re-programming fails.
I would get calls from my buddies or my nephew at 2:30am

(most were ignored) because the re-programming failed each time they ended the emulator session and the I-PAC went back to re-program itself for the front-end use and they couldnt wait 3-5 seconds.

I have only made 2 player control panels, so here is what I did. I used the Ultimarc Interactive Panel Designer to reprogram the P1 joystick and buttons to:
P1 UP= Arrow Up
P1 Down = Arrow Down
P1 Left = Arrow Left
P1 Right = Arrow Right
P1 Start= 1
P1 Coin=5
P1 Button 1 = Q
P1 Button 2 = A
P1 Button 3 = Z
P1 Button 4 = W
P1 Button 5 = S
P1 Button 6 = X
Player 2 joystick & buttons:
P2 UP = I
P2 Down = M
P2 Left = J
P2 Right = K
P2 Start = 2
P2 Coin = 6
P2 Button 1 = T
P2 Button 2 = G
P2 Button 3 = B
P2 Button 4 = Y
P2 Button 5 = H
P2 Button 6 = N
Admin Button 1 = ESC (End Game)
Admin Button 2 = LCtrl (CP Wizard default 'Execute' button)
Admin Button 3 = P (Pause)
Admin Button 4 = R (Reset)
I programmed this button setting into all my emulators through each emulator buttons settings. Programmed the I-PAC 1 (ONE) time, and have never had a single issue since.
I tried to stay away from the shifts, Alt's, Ctrl's, Backspace, Spacebar and F# buttons because of what they do for each emulator and their functions within WinXP. I only use the LCtrl button because that is the default for CPWizard and I was just too lazy to change that. If I need to change something in any of the emulators, I just place a USB keyboard in the computer box and use the other keys (like TAB) as needed!
I used the KISS (Keep It Simple Stupid) method and every one is happy. My buddies and nephew dont need to know about save states, pic & movie recording and all the goodies MAME & all the other emulators offer! Hell ,the whole arcade concept is way over their heads anyway!