Pardon my ignorance, but what's the difference? That looks exactly like what I have now.
they're different. if you look at a diagram of both you'll find the Eurostick/Happ Competition has a better design, the spring is stronger, and the actuator is a lot more sophisticated. the Ultimates are ok if it's like a beat-em-up game or something that doesn't involve precision... I'm stuck with them in my Street Fighter cab (extra thick wood CP), it's an annoyance that I've grown to get used to though.
I replaced the joysticks on all my fighting games with the Happ Competitions... I kind of regret that knowing what I know now about the IL Eurosticks, but they're basically the same sans the actuators are different designs I think. my Killer Instinct has the older Eurostick actuators on it recycled from the old red joysticks I had on it from when it was Tekken 3.
like Riptor said though, the switches wear out. I have a particular test that I use on joysticks and buttons that will tell you if they're worn out or not... throw your MK into test mode, then the switch test, press the joystick in each of the 4 directions, use a lot of force to hold it in one direction, then try to wiggle it side to side perpendicular to which direction you're in (if Up, then try to go left and right while still holding up) ... if the switch test doesn't hold solid, the switch is bad. for buttons, press each button down with your pointer/middle fingers and try wiggling back and forth, same thing applies, if the switch test doesn't hold solid, they're worn out.
I personally replaced all the switches and joysticks on my fighting games... but I'm done collecting new stuff, so I probably won't be doing that again for awhile.