I made some progress on this. I found a way to map the mouse movements to the stick. There is an option in the X and Y axis for the controller profile. Sees image below.
I also added a custom Function key command that starts the camera navigation, and mapped that to the 'start' button on the controller. I also mapped the accept / reject (left/right) mouse buttons, and two buttons for speed up (+) and speed down (-).
The +/- buttons help to account for model size, so for large models, I can hold the "+" button and the speed will drastically increase to hundreds of kmh/mph making the flying much more bearable.
(Please visit the site to view this video)
At present if I want to switch between pan and look, I have to hold the corresponding SHIFT and CTRL button (mapped to the shoulder buttons on the game pad). The real trick will be to find some way to use both sticks at the same time so I don't have to use the shoulder buttons. One for movement, the other for looking. At present I have no idea how to do that, since this current control setup literally mimics the mouse. Just a little more fun.
The mouse continues to be the more efficient way to fly around in a model. I don't think the Logitech profiler and MS together will give me the result I need. I might have to go into something else. Probably programming of some kind, which I have limited background in. On a side note, one that that absolutely bugs me is when I am flying around in a model, and the cursor leaves the view and hovers on a menu or anything else that isn't the 'view', all motion pauses. Who thought that up anyway? Is there a way to turn that off?