I have the exact same problem with my Saitek Cyborg EVO. What I did to solve that is I went to the device manager (Start->Control Panel->Performance & maintenance->System->Hardware tab-> device manager) and looked under the Universal Serial Bus controllers. What was the case in my problem was that I had to disable the "Standard Enchanced PCI to USB Host controller". After doing that, it immediatly recognized the joystick.
Now, disabling it isnt permanent, if it doesnt work or you lose control of your e.g. keyboard, just enable it back.
Hope this helps!
