I think that the placement of the spinner depends if you are a right handed or left handed player. For games like Golden Tee, if you are right handed, it helps to put the spinner on the right, because you hand naturally arcs to the left when you spin it up. If you are left handed, the spinner should be on the left for the same reason, as you hand naturally arcs to the right.
As for Web.geek's question. I wired player one and two's left joysticks normally, then I doubled up on player 3 and 4 for the right joysticks on player one and two. So when playing a 2 player game like Smash TV, it works great. Also when playing a 4 player game like Gauntlet, Player 1 and 2 only use the left joysticks. Players 3 and 4 use the normal 3 and 4 joys as well. (If players 1 and 2 touch the joys on the right, they also move players 3 and 4, but the players normally never touch the right joys in 4 player games.)
It works great for me. Below is a pic of my panel design before I built it.
~ D