Yep, I too have been down that long, lonely, crater ridden, washed out dirt road, running through the never ending tunnel with nary a twinkle of light to guide your way.
That stick is a POS. Send it back if you can, if you can't they are usually more than happy to send you a new POS, that will crap out in at least one axis within a few weeks.
Save yourself the heartache and frustration. Take it out back and give it a lead pill ( .45 caliber oughta do it), and spend the same amount of money on a different stick.
I have been using a Saitek cyborg EVO now for about 6 months, with no problems.
Cheers,
RTR