The only change I would make to Jeffrey's is to use "greater_than 50" instead of "normal" for the output functions for the WASD. Also, you really don't need three modes, 1,2,&3, since you have control over both axis at the same time. They can just be combined into one. Play around with different values for the greater_than to get the feel you want.
If the game has a sprint mode, like a shift key, you can use "greater_than 90, usb_1_up" for the sprint button.
A few other notes:
If you have used the UltraStik with the QuadStick before: The QMP has to be running to relay the UltraStik 360 data to the QuadStick.
Have everything plugged in before the starting the QMP. You should see a message about the UltraStik in the transcript.
The screen hints for PC games sometimes switch between Game Controller mode, where they are A,B,X,Y, etc, and keyboard/mouse mode, where they are key or mouse button names, according to the last input source. I think it is easier to use game controller screen hints because they are more consistently mapped than keyboard layouts. For instance, A or Space are often Jump, and RT(right-trigger) or Left Mouse Button are often fire weapon, but after that it gets a lot more random on the keyboard assignments. They have the choice of 17 game controllers buttons or 104 keyboard buttons. It is a lot easier to remember the sip/puff mapping for 17 buttons that are fairly consistent from game to game than 104 buttons which are subject to the whims of the game designer. So if you can keep the screen hints in game controller mode, it will help. To do that, you can map the UltraStik to the left analog stick and the quadstick joystick to right analog, and you will stay in controller mode. You can still have a mode sheet in your configuration file with a pure mouse mode for dealing with menus and setup in the game.