I believe an analog stick effectively does the same as a paddle...I personally am going to mount a seperate paddle on one of my controls panels - you can make one yourself using a 100k pot wired to the gameport. So this is a close to a real paddle as you can get - because it is one!
A spinner will not work well as a paddle, since it uses optics. A bit like playing OutRun with a 360degree wheel - it works but it's not how it should be.