Oh, it's so much more fun to play WC with a joystick. The mouse control is really not very good, and the keyboard lacks precision. WC1 and 2 are pretty much doable, but 3 and 4 can get problematic.
I didn't mind playnig Freelancer with the mouse, tought.
EDIT: I did play WC1, 2 and 3 with the keyboard, however, so I get the experience. I finished WC2 with a somewhat cheap joystick too, and it was fun. Then I got a nice CH Flightstick Pro. Now I have a Sidewinder Precision Pro 2.
Privateer was not good with the keyboard. The ship would navigate on a sort of "grid", so you could not point it where you wanted. Because the guns are fixed, it made it hard to target enemy ships on a distance. Supposedly a joystick would make it easier, but I don't remember if I played it that way.