You can get a 7 inch off ebay for about $120 to $150 at the most. Also that thing you posted was made by Mad Catz right? I'm sorry but everything they make is junk.
No prob, here's a link to a 6" i was going to get from what looks like a decent company on Ebay
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3089313783&category=48608
Or you could get your xbox modded and get the KawaX emulators which run CPS1 and CPS2 (capcom arcade games) and Neo Geo arcade roms perfectly like me!
Even bought a ps2 controller adaptor to use on Xbox so I could use my joysticks.