Several people keep mentioning the X-65. Keep in mind that this is a pressure-sensitive stick, and thus for obvious reasons has no force feedback. Now, that said, the thing looks epic and should you have $400 to burn, I suggest you do it on that.
Otherwise, probably the most economical "good" stick out there is the Logitech Extreme 3D Pro (goofy name is goofy). Logitech sells it for about $30 USD on their website:
http://www.logitech.com/en-us/gaming/joysticks/devices/291I should also note that Logitech ships with (or you can freely download) some pretty great profiler software that lets you bind the controls in pretty much any fashion you might choose, beyond what you can program in FS2. In fact, with this software you can make use of the 8-way hatswitch, something which you can't do with FSO. I personally use it for lateral and dorsal/ventral thrusters.
Now, I've got to say, I just found this on the Logitech website, and this stick just looks amazing, and the key positions and features look very similar to what you'd find on a modern fighter aircraft. That said, DO WANT!
http://www.logitech.com/en-us/gaming/joysticks/devices/5855Last, I just have to throw this on here, because it's so wonky cool:
http://www.logitech.com/en-us/gaming/mice-keyboard-combos/devices/5123Now, if it had a throttle slider on it, it would be WAY better than a HOTAS set-up, at least for FS. Just think of how easy it would be to micro-manage all of your idiot AI wingmates with that thang, yo!