Yeah, I was about to suggest getting an HRAP EX-SE stick as well. I purchased one specifically for the 360 because every time I had tried using a pad for shmups in the past, I could just never get the hang of it. The nice thing about the EX-SE (and presumably other 360 sticks as well) is that it also works on the PC. I still prefer using a keyboard for things like doujin shmups and MAME, but one day I plan to be moving my stick back and forth between the 360 and PC so I can specialize in just one single input method.
I never really had the time to fully get the hang of the stick, and I haven't played a shmup seriously in about three months now, so it's back to square one with learning how to use the stick, I guess. :V