I have ordered a Razer Hydra, mostly because you have a lot of axis and can use it as an absolute pointing device, so like a hybrid between mouse / joystick. Plus its great with the Rift. But for ED I guess you can't use absolute pointing since there is no mouse aim for the guns.
You probably have seen
this?
The Razer hydra theoretically has 16 DOF. I know proud owners of the X52 Stick will laugh at me, but I'm a believer in new input devices. I WANT to believe

You COULD fully control 2 space ships with the left and right controller! Theoretically you could control strafe up/down and left/right and speed up/down by movement and turn (yaw/pitch/roll) all with one single controller, before even touching the analog stick.
What I hope it will be good for is flight assist off mode, to have full control over all axis without having to move finger/thumb positions on the input device.
On a gamepad you'd only have two analog pads (4 axis) instead of 6 axis. I don't know if the accelerator on a XBox controller is good enough to steer with, or if it would be good because you have to move both your hands, giving you less rotation / movement range than with a single hand controller.
With a joystick you'd have 3 axis plus a coolie hat. So it's "theoretically" better than any of those, but I have no real clue how well the "moving in space" really works. Maybe rotating it works better than moving it around.
My initial idea for a control scheme would be this:
- Yaw/Pitch/roll on right controller rotation
- Strafe horiz/vert on left analog stick
- Speed up/down on left controller rotate forward/backward (possibly absolute)
- Left trigger and shoulder button as a shift / control button (to have like 24 key combinations with the 8 top buttons)
- Fire primary / secondary on right trigger and shoulder button
- Look around cockpit on right analog stick
- Select / Back / Afterburner / Hyperspace / Map / Scan on top buttons and combinations
- Recenter your orientation / zero position on one top button
This is of course totally theoretical since I haven't got the razer hydra yet (on reorder) nor the alpha

I hope this scheme is somewhat similar to my movement in FPS/WoW in terms of function groups for my "muscle memory". It's possible it's gonna be complicated to setup and tweak, or that the razer hydra appears as two separate game devices which ED alpha doesn't support atm. How the software works I have no clue. Maybe you can adapt one of the existing flight sim control profiles for evochron mercenary or something.
If you could share any experiences with the razer I'd be very curious to know!