It's worth noting that four of the 32 inputs (1A, 1B, 2A, 2B) can't be shifted. I'm not sure why that is, but all the other inputs can be, so it's not much of an issue.
But, yeah, you can connected multiple buttons to the 'player 1, button 1' input, for example, if, say, you want a top-side button and a side-pinball-style button to both do the same thing.