Alright, so I've been using it this way for some time now, and it's worked quite well.
Only problem is that there doesn't seem to be any native support for keyboard inputs to the controller buttons ( i.e., have the DPad emulate arrow key presses, bumpers emulate some random other keys, etc. )
Best software I've tried doesn't even recognize the existance of the D-Pad or triggers, and most don't recognize the right thumbstick.
I want to play on my DS emulator using it, but the thumbstick is just too slopy for emulating a D-pad. Any help?

Xpadder works quite well.