Give this a try,
Go to c:\programfiles\htc\aceshigh and rename the settings folder to settings1
Then launch the game again. Choose your normal video settings. Go offline. Bring up the clipboard and choose joystick select joystick.
In the middle you should see the MS stick. At the bottom click on set all inputs and set all buttons. Go into calibrate and calibrate the stick. Open the stick mapper and push the buttons to see if they light up.