I already posted this in the GP-Wiz 49 thread, but just in case anybody's stopped reading that 11-page monster, here's how I got a Williams 49-way stick to play and feel like an original 720 stick:
First thing I did was to take my beat-up Williams 49-way stick apart. I dismounted the ball pivot assembly, took it apart, and soaked those parts in gasoline. While the soaking was happening, I cleaned the plastic sliders, and lubed them with Lithium Grease. Then I went back to the pivot parts, and scrubbed them down with a toothbrush. I re-lubed the pivot assembly, and put the whole thing back together, but without the spider. Then I remounted the stick. I was very pleased with the feel- the stick spun freely in a circle, and I'm sure with a new spider it would feel and play like new. Without the spider, it seems to naturally want to stay at the outside of the circle, rather than bounce back and forth through the middle. A little resistance like that provided by the chain assembly on a real 720 stick would be nice, but otherwise, it feels a lot like a real one. The handle seems a little shorter than I remember, but then again, my 49-way is mounted under 3/4 inches of plywood, so there's room for improvement there. The angle is probably a little more upright, too, but that doesn't seem to matter much. I was pretty happy with the feel, mechanically, so on to the software:
I fired up MAME 0.90, and tried 720. I had to enable joystick support for the game, and remap the controls to the stick's analog axes. The 16-way digital restriction built in to the GP-Wiz49 worked, but not so well. Raw49 mode worked better. In fact, it worked pretty darn well! The skater rotated smoothly, and always went in the direction the stick was pointing. I've tried to play this game in MAME with 8-ways, keyboard, mouse, PC analog joystick, etc, and never could make it play worth a darn. With this setup, I was able to get on the half pipe and score some 700 point tricks on the first real game of 720 I've played in years- and I'm sure I'll be able to do better once I get some practice in. I'm certainly happy with it, and it's how I'll be playing 720 from here on out.
So, to sum up-
* 16-way DRS is a flop, and can be replaced with something else if you want, Randy (sorry)

* A beat-up Williams 49 way can be restored with a little cleaning, lube, and a new spider

* 720 plays well with a spider-less Williams 49-way
