I tried mapping FS2 to a 360 gamepad. It didn't work too well, not nearly enough buttons for targeting and energy management.
Yeah, but you don't need the Energy management to have a succesfull space game. If you want to make, say, a Wing Commander reboot, you can use it's "Automatically target what is in front of me", for example. And the first iterations had no energy management, so a reboot could be done without. All you need are lasers, a BSG style fligt system (like the earlier wing Commanders also more or less had when you used the afterburners, shelton slide ftw) and a really, really good story.