Pwnisher, I had similar issue. The way I resolved it is by assigning rudder to throttle axis on the rudder setup. I know, makes no sense but works for me. Don't touch the TARGET software, or reset if you've already mucked around with it. Good luck.

"Take the cylinder out of my kidneys,
The connecting rod out of my brain, my brain,
From out of my arse take the camshaft,
And assemble the engine again."