hey CaptRIO
I own an older TIR3 but I've been using the latest software with good results...for setting up a profile I simply chose the deadzone template for each axis and went from there...the Z axis [forward and backward motion] was the most sensitive and I've tuned it to be as minimal as possible...pretty easy all in all.
not sure but you may or may not know that the "head shake" realism feature is bugged and causes the inside cam view to be waaaay over sensitive...and it also screws up TIR if enabled....at least it did for me.
and if you do find "tearing" of the screen image to be a problem I've found that D3DOverider that comes with Riva Tuner a good way to enable v-sync and triple buffering...but of course you need good FPS in order to maintain a decent average.