I bought is as a gift but honestly couldnt wait for a go myself. We play a lot of racing games at home on the iphones and while you dont need the steering wheel, it adds an element of fun and perhaps makes it easier to steer. I bought this for my 70yr old Mum who loves her iToys and is very capable, but to me holds the phone wierdly to play racing games. I play holding the phone infront of me like a steering wheel, but she has the phone down almost on her lap and instead of turning right and left as you would a steering wheel in a car, she leans it forwards and back - not wrong, just different. I wondered if getting the steering wheel would help up her game. Im regretting it somewhat, she now easily beats me most times!
The wheel is solidly built, and its very easy to take apart, fit the phone into, and then take apart again when done. It can be done in a matter of seconds, and has attatchments for ipod touch/iphone 3G and 4G. Its small enough that it doesnt take up much room so is easy to store. Its reasonably priced, and great fun to use. All in all I highly recommend it.