It is a t2 gun, that's actually a t2 cab.

Midway must have sold the design to third parties after they decided to stop making gun games. Right after t2 came revolution X with the three gun cp design you see in the beastbuster cab.
To answer your question, analog gun games don't work well with lightguns. On the other hand it's almost impossible to design a analog gun cp that aims accurately (ask 1up about that one) unless you have the same cp, size screen, ect as the game it came off of. So you are kinda screwed either way.
