You have to update the x52 software from the website... The CD contains old drivers (i think pre-madcatz). That's why the profile manager probably crashes if you've used the CD.
To save a bit of potential frustration:
I had to follow the instructions from Saitek to properly remove all traces of the drivers and software. Then re-install driver then SST (and do not plug in the x52 until the driver program ASKS you to plug it in, and then do so).
Here are the instructions you have to follow them all or the same problem happens again:
1. Unplug your device from the computer
2. Uninstall the drivers
3. Uninstall the SST programming software
4. Delete the Saitek folders from the following paths :
C:\Program Files
C:\Windows\Temp
5. Delete Saitek registry entries:
-Press and hold the Windows key on your keyboard and then press the letter R. This will open the Run box. Type regedit and then click ok.
The Registry Editor will have a list of folders on the left hand side. Go down into the following folders in order by clicking the + next to the folder name.
+HKEY_CURRENT_USER
+System
+CurrentControlSet
+Control
+Media Properties
+Private Properties
+Direct Input
Delete any folder inside the Direct Input folder that begins VID_06A3.
6. Reboot
7. Install the latest drivers and DO NOT PLUG IN YOUR X52 until the install program ASKS you to or you will have to redo this whole process.
I've got mine setup pretty well with the profile editor.
My main hat on the right stick changes menu selection, distributes power, looks around, and is a backup lateral control thruster with up/down corresponding to forward/backward.
The mouse wheel on the throttle is set to engage and disengage freelook upon clicking it. This allows me to freelook in combat and still maintain control on the main joystick axis', the throttle control, and the lateral thrusters.
I use pinkie switch mode to dock/scoop, basically by dropping the throttle and using my two sets of lateral controls to guide me into the dark nethers. Also freelook is still available in pinkie mode.
So I say you should learn to program the thing, it's actually quite simple after you get past the Excel-type spreadsheet.
Seriously, running it straight out of the box is like driving a Ferrari in only first gear. And it's the functionality of the X52 that really sells it compared to the CH setup.