I’m using an ipac controller that has a shift key option that allows me to have many different keyboard buttons available so it isn’t the end of the world if I have to reach over to the arcade controls to perform an action like bringing up a menu, etc.
I’m using the xbox controllers personally for every emulator but my kids use the arcade controls mostly. Originally I needed a controller for emulators like n64, psx, etc. but I love that I’m now going to be able to use it for all the older systems as well. I had no idea it could emulate a mouse!