It does have rotating as well as yaw, but not sure how you'd do that on the 360 controller without giving up at least your lateral thrusters.
I was looking at the controls and thinking of just giving up "swap to previous" on both weapons and missiles and putting next weapon/missle on dpad left/right then moving 2 (the menus) of the face buttons to up/down so I can put roll on the bumpers.
