I've had two Gravis Eliminator's hooked up to my PC for several years now, and I think they work pretty well. Of course I haven't tried anything else, so I can't say how it compares with other gamepads.
For first-person shooters, I use the analog stick with my left hand to move, L1 to jump and L2 to crouch, while I use my 5 button optical mouse to aim, fire, reload, fire secondary, run, zoom, and switch weapons.
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