This arduino pad works great!
In my DIY project I placed an arduino nano inside the pad and connected to another arduino using the IC2 protocl. The arduinos was connected with an old VGA 1.3m cable. This way you only need 4 wires between control box and arduino pad. Alternative you can connect the pad to the control box using a bunch of wires.
Best explanation of the I2C protocol: http://gammon.com.au/i2c
*2 x joysticks To get the joysticks on ebay search: Biaxial XY button PS2 joystick"
*Nokia 5110 Arduino To get the lcd dispaly on ebay search: Nokia 5110 Arduino
*16 x M3 nuts
*16 x M3 bolts
*4 x M2 nuts
*4 x M2 bolts