Hey guys I'm new to fighting games but am looking to get into SSFIV and play at a high level. I have a 360 and just want to know what fightstick/controllers are worth it. I'm looking at the Mad Catz fightpads or the Hori EX 2 (I think that's the name). Just want to know what you guys recommend.

I've had a Mad Catz TE for a while now and would recommend it 100%.  You can get them pretty cheap if you shop around.  I can't imagine using a pad again.

The 360 controller is pretty ass so I'd have a look at a fightpad. Try a fightstick first if you're thinking about it, they don't make you a better player. Some of the best players in the world use pad, absolutely nothing wrong with them. The best thing to play on is whatever you're most comfortable with.

Stick isn't necessary for high level play, look at WolfKrone who plays one of the most execution heavy characters in the game at a near perfect level. 

The Hori EX2 is no good, you'll be wanting to replace it in under a month.  A cheap madcatz SE stick is way better and the TE is much much better than either option.  

avoid  the hori ex 2. its been my stick for a while the buttons became  more and more stiff ontill the day that my cable broke rendering it useless. now im back to using a pad and down to the level of a scrub

I have an SE modded with Sanwya parts and a MadCatz fightpad. Fightpad was OK, but now that I'm used to the stick I can't imagine going back. It might be because I prefer charge characters like Balrog. I find it hard to go from down/back to forward or down/forward consistently on a pad - sometimes a dash straight comes out, sometimes dash low. It's always consistent for me with a stick. I'm probably just not used to it though, since I didn't use a pad that much before switching. I know some people prefer them (though a minority) but I'm not one of those people. I like having both - if someone's over and wants to play I can at least give them something better than a 360 pad.

it all depends on your budget and personality.

Do you have experience with a fight stick? if so, don't even think about it, TE is the way to go, or if you can't get a hold of one, go for the Hori real Arcade pro I have both and like them both.

If you dont have experience, be aware that just because you own a fight-stick, that doesn't mean you will be better. In fact, you will probably suck at first because using a fight stick has quite a learning curve.
I started playing with fight sticks after a trip to japan (only played at arcades so was forced to learn) and at first I suuuucked, took me a couple of months of grinding to get comfortable.
Now ( alsmot 2 years later) I'm at the point where I can't use a pad at all
But yeah, If you KNOW that you are willing to put in the work to get good with a stick, then go for the TE or Hori real arcade pro.
because if you buy a cheap one, and get better, you WILL want to upgrade and then you will have wasted the money you spent on the cheap stick.
However, if you buy the TE and realize you dont like using a stick, you wasted more money.
So it comes down to your determination and experiences really.

"Try a fightstick first if you're thinking about it, they don't make you a better player. Some of the best players in the world use pad, absolutely nothing wrong with them. The best thing to play on is whatever you're most comfortable with. "

Holy shit - that dude is amazing. Great advice for anybody and such a solid outlook. I don't know how the hell he does that - even with the macros he's set up (which would actually be a disadvantage to a player with full use of his hands).

I have both the SFIV TE stick and the Hori stick. And compared the Hori stick is crap.

If you're new to fighters just get a Fightpad. Don't blow the cash on a stick for a genre you may end up being frustrated with. I've been playing Street Fighter since I was 8 and only bought a stick last month haha