The MadCatz WWE Brawlstick is an economical solution for most that want to get into fighting games. The parts such as joystick and buttons are easily replaceable - within reason. How easy depends on the type of joystick you prefer to install into the Brawlstick.
The Seimitsu LS-32 is highly praised within the SHMUP (vertical and horizontal shooters) community for its short engage distance. However, the LS-32 has a unique shape -- it doesn't have the same mounting plate dimensions as the Sanwa JLF compatible plate that is used within the SE.
This video by East Coast Customs provides insight into how you can install a Seimitsu LS-32 joystick into the Brawlstick, plus avoid some of the problems they experienced when installing.