You should probably post or read one of the numerous threads that already exist for these products:
TE S (What Whinette is referring to as Round 3): http://www.shoryuken.com/showthread.php?t=221283
I have 2 PS3 TEs that have never had any problems. I also recently got a 360 Marvel vs Capcom TE for $99 at Gamestop. All great sticks. I also got the TvC Wii stick from MadCatz (that is similar to the PS3/360 SEs) and love that, even the stock stick/buttons.
But, I’m not a Mad Catz fanboy (hah), I also have a Hori EX2, Virtua Stick High Grade and HRAP Pro EX-SE (first I loved the switch to Seimitsu, but now I’m back on the Sanwa train) and an actual Taito Vewlix control panel.
If you like Japanese sticks/buttons, the TE is the best bang for your buck (all Sanwa from the get go). The round 2 at $130 isn’t a bad price, but don’t be afraid of the original TEs for $99 or less. From what I’ve read on this forum, Mad Catz does have pretty good hardware support.