The e-stick works fine as an 8-way, though I doubt you'd want to play fighters with it. The throw is much shorter, and the springs are REALLY tight. Whether you want to use it as a 4-way or 8-way, i'd suggest replacing the springs, which is easy to do...
I went to Home Depot and found a spring of the same approximate size, but made of a thinner gauge wire. Popped it in the E-stick, and now it feels just like a Happ super (but with a shorter throw.)
The spring was a "Handyman Springs" brand (Prime-Line Slide-Co), part# SP-9706. The specs are 1/2" x 1-1/2" x .041