Happs Rotaries with a druin's board is what I use. No replacement.
And yes, I use it on player one with great results.
Not only do I like it for that, but as a fighting stick and all around pair for the supers in dual arcade mode like Robotron, I have no regrets.
Check out my pics in the project department page 3....(shameless plug.

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On a side note, I used to get by with a spinner at extremely low settings and then use a Top fire...but that even sucked to. Rotatries (non-optical for me) are the only way to get the authentic feel...plus you get two more programmable buttons(left twist, and right twist) for other purposes!