pedals..could this work?

i was in pc world today and was taking a good look at a new joystick. i got distracted however by the wheels and pedals - a seperate set being as little as £15. it crossed my mind that a pedals input is generic and actions defined by the software. so my question is...am i correct in my thinking that perhaps a cheaper set of racing pedals would work with flight sim?

i'm aware real rudder pedals are toe press for braking and slide forward/back for actual rudder movement, but i can't see this implemented on the £120 CH set anyway...