Like a lot of us here I've got a Saitek X52-Pro and it's great. However, I've often thought it could use a couple of extra buttons, so after discovering Arduino microcontrollers at Christmas I decided to have a go at creating a HID-compliant 'joystick' to fit inside the existing throttle. It worked a treat and now I have three extra buttons, a 2-way toggle switch and a 4-way hat switch to play with 
If you fancy having a go at this with yours then I've created an Instructables guide on how I did it. There's a lot of X52-Pro specific stuff there, but there's no reason why you couldn't use the guide to do this to any device you like.
If you're after something simpler, and arguably a lot more sensible, then take a look at Mobius's Logitech 3D Pro joystick/mouse mod - no code required!
If you fancy having a go at this with yours then I've created an Instructables guide on how I did it. There's a lot of X52-Pro specific stuff there, but there's no reason why you couldn't use the guide to do this to any device you like.
If you're after something simpler, and arguably a lot more sensible, then take a look at Mobius's Logitech 3D Pro joystick/mouse mod - no code required!