I have read the wiki and tried out different configurations, and I can do both parts of what I want, just not together.

I'm using an Xbox 360 wireless pad, (not that the model matters as long as there are two sticks), and I have the following problem.

There are two ways to configure the sticks :
Left stick does it all : the left stick controls movement and aim direction, the right stick does nothing. this gives a Zelda-esque gameplay which is confortable and fast, but isn't useful at all when strafing around an enemy firing shots into the fray.

Left stick does movement, right stick does aim : This is a much more versatile setup, with an aiming/movement style like Geometry Wars and Alien Swarm, this allows for circle strafing, back tracking while firing at the horde of mobs chasing the player, and basically any kind of manoeuvre you need, but it means you need to have both thumbs active ALL the time in combat, and requires you to aim the way you're going when charging and stuff.

I would like a hybrid system, where left stick does all, unless there is movement on the right stick, and the right stick grabs the aim until it returns to center position.

I may simple have not found the option, but I believe this isn't possible at the moment.