IMO all that is really needed is the ability to map the pitch and yaw axes to a stick and retain analog input. No reason to even lock the reticule; leave it on the mouse. A flight stick has enough buttons to map the hotkeys to already, and as someone already pointed out, there is software out there that allows joystick-mouse emulation.
I actually tried early on to map the W and S keys to pitch and ditch the yaw control entirely, just to be able to fly the ship with one hand and target independently with the other.
Mechwarrior habit