I'm also a fan of the click triggers - not too happy of them being left out of the CC Pro. Sad to see Nintendo dump an innovation with such untapped potential.
My first inclination is that Nintendo will do without any type of analog stick and retain their patented dpad. See my previous posts for why I think this is the most likely option.
However, I can see an analog stick being useful for 360 degree motion, and thus my second guess would be that there would be a single analog stick without a dpad. Admittedly, my setup would take a bit getting used to for a game like Mario, but in theory it should work just as well. You only really need 3 directions in 2d Mario titles. I would think with the proper manufacturing that it would work exactly like a mini digital arcade stick or a NG PC stick, with additional functionality if pushed passed that limit.
I don't think there's any chance in hell of Nintendo having two control options on the left hand of this device. Of course, they may just have one normal analog stick and if people don't think the original DS titles function as well, they can go buy a DSi/DSiXL, which will surely still be on sale and at a cheaper price. After all, the Wii CC doesn't have 6 face buttons like the N64, does it?