This is a brilliant set of wheel and pedals, very responsive, excellent feel and very realistic. The settings allow quick and easy fine-tuning, I was up and running with Forza 2 in no time at all. I simply used one of the presets, accessed by the small black button on the wheel, and didn't even need to adjust the in-game wheel options (dead zones, sensitivity etc.)
It may not have some of the features of the latest, 360 degree wheels, but it is very convincing and I can verify that it does feel realistic as it is very close to my 1980's E30 BMW 318i in terms of feel and response.
I'm surprised this wheel is not made any longer, and at the current price it is an absolute bargain.
I've always loved Logitech wheels & pedals, and this one is fantastic.
Note: I previously thought mine had a fault as suddenly it was not being recognised. This turned out to be due to yet another of the Xbox 360's idiosyncrasies, in that when you load up a game, from the start you have to use the controller on the wheel, not the normal controller, to go through the menus, else the game bypasses the wheel and it doesn't appear in the menus and is not recognised as present.