I just spent $25 on this device, just so I could use my old gameport controllers with a modern PC. Excessive? Yes. But in today's age where every PC gamepad released is a DualShock-type "me-too", it's nice to have some variety. Plus, it works flawlessly under Windows 7.
It actually has four different "modes": One for a Thrustmaster FCS, one for a CH Flightstick Pro, and one for either a standard 2-4 axis/4-button controller or a 2 axis/8-button controller. The only major caveat is that it doesn't work with digital controllers, only analog. So no Microsoft Sidewinder GamePad compatibility. But I just tested a Gravis GamePad, an InterAct PC Power Pad Pro and a Capcom PC Fighter 6, and each one passed with flying colors. If you use DOSBox a lot, you'll probably want to look into this.
http://www.amazon.com/Manhattan-Usb-Gam ... 176&sr=8-1