Madcatz really was schizo. Their non-fightstick peripherals in general weren't worth anything, but I still use my original TE stick. For those saying "Madcatz didn't make it, those are Sanwa parts," Madcatz marketed them as containing Sanwa parts. It's not like they were trying to hide it, it was the main selling point. Those original TE sticks were so good and cheap it made it awfully tough to justify a custom stick. It cost as much to make it yourself as to just buy the Madcatz. I own an Hori VLX as well and use it on the couch, but the form factor of the Madcatz is perfect for traveling or for sitting at a computer.
I hope I never see another Madcatz SNES, N64, or PS peripheral again, but I'll miss their presence in the fightstick market.
Agreed. I will never argue with someone's preference for one brand or another for a given task but, IMHO, nobody has a better fightstick than the TE and TE-2.