JoyToKey
Full user review
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"A must-have for any joystick user"
Pros
A very easy to use, flexible, and solid app that can convert joystick movements or button presses into any mouse or keyboard operation. Allows you to play any game that uses keyboard or mouse input using the joystick, or even navigate Windows.
Cons
Will probably require some fiddling with to customize to your personal needs, but that's not a fault of the software. Just be advised that some work is involved.
Summary
This program is great, and really makes it worth having a joystick on your Windows machine. All those games that were never meant to be played with a keyboard and mouse can now feel just like the arcade version. I even have profiles that let me use my arcade fightstick to navigate my web browser, and as a controller for Ableton Live.