An interesting and funny way to play Shenmue can be had by using other peripherals then the regular controller as input devices. I've just tried around with various stuff and got some interesting results!
The arcade stick is of course the first thing you'll think about and it works fine, well for the most part.
Shenmue doesn't absolutely need an analog stick to be played so the arcade stick is enough here.
Unfortunately C and Z and not mapped to L and R so you'll always have to walk, wich actually makes for an interesting experience. Do this in Shenmue II because you can't drive the forklift without L and R.
Keyboard and mouse sadly don't work at all. I really thought you could use the keyboard to at least do something.
Playing with the race controller is somewhat possible. The paddles act as L and R so you can actually run and drive the forklift. + and - act as up and down on the d-pad respectively. You can actually steer the camera and Ryo at the same time with the wheel. First it turns the camera and then Ryo if you yank it all the way. Problem is that your stuck with only A and B buttons, so don't try to play Shenmue II with it. Shenmue might be possible although fighting with kicks and throws only is a bit hard, and really hard because of how you move Ryo.
The lightgun (official one by Sega) is a somewhat of a combination of the arcarde stick and race controller if you will.
With a d-pad and only A, B and Start you pretty much have a hardcore experience for the first game. Only walking and limited fighting.
The fishing rod kinda works but makes it impossible to play at the same time. The motion sensor is mapped to the L trigger so the camera is always zoomed in and you can't really controll Ryo. If you switch the controlls around Ryo will always walk a bit. It's really a shame you can't do without the motion sensor because the reel acts as the R trigger and it would be rather funny to make Ryo run by turning it. The analog stick again somehow acts acts as both stick and d-pad and you can controll Ryo and the menu (even though the stick is horribly slippy and imprecise). You also get all the face buttons. But in the end it doesn't work.
Now the Samba de Amigo maraccas... This is very interesting, somewhat creepy actually. You see these things have ultrasonic sensors to calculate how high you are holding the maraccas. What it didn't knew is that they can also track the maraccas position horizontally. So the right maracca is like a huge virtual reality analog stick. You can controll the camera very precise by moving it up, down, left and right after you've found the center point. Now I haven't switched the controlls to make Ryo move with the analog stick but I guess it would work. Unfortunately you only have two buttons here. One is start and the other one I guess acts as the A buttons. Not much you can do with this setup.