Doubt this has been posted here, but there are reports of defects in the Mad Catz Standard Edition stick.
http://forums.shoryuken.com/showthread.php?t=176026
Apparently a design defect has been found within the MadCatz Street Fighter IV Fight stick ($80 version).
This defect is a design issue that would appear to effect all $80 MadCatz Fight Sticks.
It has a washer on the stick that scrapes against the PCB (circuit board). This eats away at the connections and destroys the stick, rendering it useless.
If you have this stick and you notice the stick "sticking" or not responding... this is probably the reason why.
There is a thread over at SRK about it. Judging from a comment in the thread from the sticks designer, this defect was brought to the attention of the manufacturer last week.
It seems that MadCatz is maintaining its record of poor quality. It is advisable to avoid these fight sticks until newer batches fix the problem.
It appears MadCatz will "Take care of you" but... when... thats not known. Its more than likely that they dont have replacement parts that solve this design issue yet.
The only immediate solution is to simply replace the stick itself with an aftermarket arcade stick.