The sticks are real Seimitsu LS-32s, but the buttons are cheap rip-offs of the shallower Seimitsu buttons. I'm taking pics of this project just for the hell of it...I'll have some buttons from Lizard Lick this week.
I'm having some trouble deciding on which encoder board to use, but the Ultimarc Mini-Pac seems to be the best choice, especially because I can get a PS2 to Playstation converter for it and use it on almost every system I own.
Funny thing is that everyone says how crappy the Blaze Twin Stick is, but the even though the Virtua Stick has (far, far) better sticks, the buttons on the Blaze are actually a bit better. They have a shorter throw and they don't stick.