Rule of thumb, for the MSRP be vary of sub $54 dollar arcade sticks. There are exceptions to the rules like the TvC dropping in price not long ago.
Of course you might find deals on eBay, craigs list or SRK’s Trading post. Those Stick that Fall on the $54 dollar amount are in a grey area, Mayflash for example isn’t worth the price unless your willing to spend more to modify it.
For a first stick I think it’s worth it to pay slightly more and not have to mod. Modding sticks becomes a hobby in and of itself, and if you don’t have any tools the little things here and there that you’ll need can add up quickly.
Either get the Namco+converter or keep your eyes peeled for a PS2 HRAP and get one of these:
stick prices fluctuate a lot but when the fighting game bubble bursts the market will be flooded with sticks who knows how long that will be from now there are lots of goodies coming for a while. But back in the day before SFIV was announced you could get some good deals on stuff but there were also a lot less options on retail and customs sticks
Honestly you’re almost better off getting a HRAP, SE or BrawlStick if you can find them at a decent price. The parts are better quality than the Mayflash or any of the other sticks originally posted, and can be modified relatively easily. The Namco would be fantastic, but as mentioned earlier they have been out of production for a while and you’ll need some patience to find one at a decent price in auction. Not impossible, but not the quickest thing either.
Starting out with a cheap knockoff stick is going to cost you in the long run, no matter how you look at it. Either your execution will be off trying to compensate for the low quality parts or you will spend more money and time modifying them to a decent spec than if you bought one from a more established manufacturer in the first place. Some things just aren’t worth going the super low budget way. This is one of them.