I'm having a problem with deadzones

I have a Saitek P880 gamepad and this pad has zero deadzones. For some reason in ePSXe my analog range is cut to around 40%. Yes, over 60% of my analog range is dead. Normally that wouldn't bother me (I don't play many games that require a full range analog), but I'm currently playing GT2. Anyones that's played the game will know how important it is to have full anaglog range on both sticks. Having only 40% makes controlling the car next to impossible - It feels like I'm using a D-Pad.

Yes, before anyone says it; I do hit F5 to switch to analog mode once the game is booted.

Is there any way to lower the deadzone range so it's more like a real PSx? IIRC, the PSx deadzone was at 20%.