Mapping Idea....will it work?

SO. I'm fairly new to mapping.
I've done a bit of custom cue point layouts for my keyboard but I've never actually really mapped a controller.
I've been making some more advanced routines lately and I've wanted to purchase a controller or the KONTROL x1 to use with my regular setup.
Here is my cheap solution......
will this work?

http://img5.cherchons.com/marchand/w...2090_zoom.jpeg

NOW. I plan to use this with my regular, external setup. :rolleyes:
Here are my questions.

1-Can I map the jog wheels to do a mapping like Ean's s4 mapping?
2-Can I use this JUST to control FX since I am mixing with a CDJ and turntable?
3-Has anyone every mapped this to effects? How long do you think this would take a noob like me?

My budget is fairly small so this seems like a cheap solution. Please give me some feedback before I throw some money at this.
:D
THANK YOU VERY MUCH. ":D

Its doable in Traktor, I'm currently working on a jog wheel FX mapping for my Mixtrack Pro when I'm using an external mixer. Its just a matter of understanding modifier states and making sure your midi signals don't contradict themselves by having unwanted side actions preformed alongside your initial intentions.Feel free to ask any further about specific questions.

main issue with that controller is that the jogs aren't touch sensitive which a mapping like the one u mention would need.

cheapest contollers with touch sensitive jogs afaik would be the "gemini firstmix" or "icon idj" tho a "mixtrack" isn't too much more. you'd also get more controls.

Now that you mention it, I never actually mapped the touch sensitivity, only used the wheels as dry/wet for an effects group. So the sensitivity isn't needed as long as a button is mapped to turning on the different effect, on the mixtrack in used the 3 volume faders and the 3 load buttons conveniently located above each fader to turn each effect on.