I do not know why BigBox does not allow me to assign things like it should but I am not fighting this battle any longer, adding the correct lines to the inputbindings.xml solved my issue, not gonna spend any more time going down that rabbit hole, going to spend some time actually playing some games.
On the same machine I did do a quick test, I installed LaunchBox to the root of my D Drive, so, D:\Launchbox, when I go into options and tell it to use my Thrustmaster TX Steering wheel as a controller, it immediately acts as if I am holding the down button consistently, there is nothing I can do about it.. I exit out of BigBox, goto the inputbindings.xml and remove all entries that reference "LeftStick", there are like 6 or 7, save the file and go back into BigBox, my steering wheel controls everything exactly how I want it to, the dpad moves things up, down, left and right and buttons 1 and 2 are Select and Back. I can not explain why all this happens, but, with the current workaround things are functioning flawlessly, I have 5 different emulators setup, maybe 20 or so games total, everything working as desired.
Appreciate all the replies and comments and hope everyone takes some time to play a game or two soon
Thanks,
Zeosstud