About the analog stick: the chat log says that the analog stick is wired where touchscreen use to be wired. That does not mean that the device has a touchscreen. That does not mean that the analog stick will act as a touchscreen. That just means it's wired there. For the applications, it will be seen as a standard joystick device.
About the 336 MHz frequency you can see on GMenu2X: currently the GCW0 kernel does not support underclock / overclock, so everything demoed runs at 1 GHz. I believe this feature will be added on a future OS upgrade, post-release.