The mode switching on CH devices is a bit weird and of little use with Elite since it shows up as three buttons (one per mode and the one corresponding to the current mode is permanently pressed, so it's something like "green" is a permanently pressed button 16, "yellow" is button 17, and "red" button 18). Theoretically you could map it to functions that support "hold" binds, but you'd need to edit the binds file for that, since a mode change will be detected as [Ministick push]+[Button for current mode]. I'm not using it on the throttle at all. On the stick, I'm using the mode button (index finger above the trigger) in combination with others which also requires manual editing of the binds file to get rid of the mode indicator. Currently [Stick mode]+[Trigger] toggles hardpoints, and [Stick mode]+[Joy2] opens and closes the FSS view in beta.
I have it set up as full-range throttle axis, the front three buttons are (left to right) thrust direction, chaff, and boost, the front 4-way has TrackIR centre and suspend on left and right and flight assist toggle on down, the ministick is for thrusters left/right and up/down (with a huge deadzone), bottom side 4-way switch has heatsink and silent running on forward and back. I think the upper 4-way does something with targets, but I do so little combat that I honestly can't remember

The PoV hat is currently not in use.
In the new FSS, the ministick is used for tuning
And I'm using pedals for yaw and SRV steering; ergonomically it's nice to have that kind of footrest and it frees up some dexterity to make better use of the sticks.