You're probably thinking of the cheaper version of the sticks when it comes to replacing the sticks/buttons (not the TE). As for replacing gates that is just to change the action of the joystick from a circular motion to a square motion with more defined corners. Most people wouldn't bother.
So basically it is a great stick with real arcade parts right out of the box, no need to modify.
[quote name='LordFlux']I really wanna get this, but I keep hearing about people replacing sticks, gates, switches, buttons, blah blah blah... it makes me question whether the stick is any good the way it comes. I don't have the time, patience, or money to mod it. Can anyone comment?[/QUOTE]