well, it works a bit strange here, the object speeds up a bit when I release the stick, but I think it's gonna work for now, thanks a bunch!
Yeah that's the acceleration on the raycasting.
You can lower the acceleration rate, or the length of the ray.
You could just set the pad variable to:
Sprite.X+(Gamepad.Axis(0, 0)*yourspeed)*dt
Sprite.Y+(Gamepad.Axis(0, 1)*yourspeed)*dt
Instead of the ray cast as the angle() between the joystick, and the object can get a bit iffy when they are close.
Or possibly check their distances.
Edit:
Its probably a good idea to create a dummy object to act as the proxy for the joystick.