as a ps3 player, i give you two advices: get a keyboard for talking, only for that (i use the pad integrated one, is pretty easy to attach and use), and macro everything. As a bard, my attack and buff macros take only 3 buttons. You can macro your monk routines, the ones most used. And the buffs. You'll see.

Btw mouse + keyboard gives indeed more precision, but mostly is a matter of pratice. I can do perfect endgame runs and primals (ifrit actually) w/o deaths and such with my pad °.°/