Well I tested my patience and tried anyway. Turns out it cannot be done with the MS 360 controller drivers (at least to the integrity of the predefined X-input "scheme") due to the binding of the triggers to the same axis (Left-Trigger is ZR- and Right-Trigger is ZR+). This means one cannot fire the gun while in analog zoom, and to fire one must make sure LT is not being pulled more than RT.
X-input enabled games fix this, which Arma II is, but the actual game settings don't allow one to invert joystick axises. I've tried putting a minus sign ( - ) in front of various joystick lines in the profile file to attempt to negate any for of axis movement. This didn't seem to do anything to help fix the situation (can't remember if just the settings bar was "blank" at the in-game config, or if the stick also stopped working).
I mean, I could not think of anybody I know that uses inverted Y mouse, yet I can think of literally dozens of people who use inverted Y stick. Seems kinda backwards to provide mouse and not stick Y inversion.
EDIT: Reads up ^^
Hmm, looks like the page didn't decide to load the replies until I posted my own. Ah well... obviously this issue is well known by the community at least.
