I just got the game yesterday myself. I have that same HOTAS but I've only used KB+M (and TrackIR) so far in Elite: Dangerous. I'm going to try out some different key bindings but so far I've liked KB+M (I've only done a few training missions and about 20 minutes of "real" game time, basically flying around lost/clueless anyway lol).
I haven't played enough of the game to say I'm digging it, but I think the potential is there for me to really enjoy it. Man the complexity and depth to the game is pretty incredible if you think about it, and it should only get more so.
I'm terrible at combat; I had to play the first combat mission (the one after shooting the stationary toxic waste) where you're only up against a single spacecraft about 5-6 times before I finally beat him, lol. It just took me a while to get a handle on maneuvering, and I'm still terrible at it. The guy (and two ships, in the next training mission) end up getting behind me and I just could not get back behind them for the life of me. Didn't matter what keys I press or directions I tried to fly. I'm kinda surprised it only took me one try to beat the training mission where you fight two Fed ships (I think it's the 3rd mission), but having the missiles REALLY helped I'm sure.
There's still quite a few questions I have on the game but I don't feel like listing them all here with a long ass post. Gonna play for a bit and see if I can figure some more stuff out.