I have the mouse emulating nub and button on my Saitek X52 throttle mapped as a mouse, and mouselook toggle. I don't use F8 ingame really, with the mouselook function negating the need to pan around with the keyboard, or remap the mouse. Map the mouse in AH, all the other views in the Saitek Profiler, and you're all set. I've got the 8 standard views on a stick hat, combo'd with "look up +" via a shift button, and the head position adjustments on the other, with one button returning me to interior, looking forward, default zoom, snap, etc courtesy of a simple macro. I can look at gauges, scooch around on the seat, stare at the floor, etc, without taking my hands off the controls. This makes it possible to achieve new levels of disorientation while flying that just aren't possible with conventional controls.
I have some of the F buttons mapped to the stick, but I don't find their placement convenient, and as such don't use them. Mouselook ftw.