I've had two of these since December.
The wheel looks great. I race rFactor and Grand Prix Legends regularly and this works absolutely fine with them once you install the drivers (included). The materials seem to be good - the rubber wheel surround is grippy and wears slowly. The metal paddles seem to be of good quality and make a satisfying click noise. There are plenty of buttons and the little red "manettino" switch is very useful for changing settings quickly. The clamping system is one of the best to use and the wheel is rock solid once clamped on. On my first wheel (more about that in a minute) the small rubber pads on the base slid off though, which meant it did start to come adrift of the desk in a heated race. No such problems so far with my second one. The wheel only turns through 240 degrees but this isn't really a problem, you can still be precise and real race cars don't have much more than 240 degrees steering lock anyway! The pedals are alright - I've had plenty of problems with the pedals in the past - but the material on these seem to be good. There needs to be a bit more weight on the base though. Force feedback is strong and fairly good.
I had to send the first one back after about 2 months. The wheel when turned was initially very quiet and smooth. However, after about a month, the wheel became noticeably "notchy" in turning, more so to the left than to the right. It then began to develop a clanking sound inside the wheel when turning which got louder. I would have opened the casing up to try and clean out the dust but that voids the warranty. Then it stopped working altogether. Thrustmaster advised me to return the wheel, so I did. Amazon promptly sent me another one which was good. The pedals on the new set failed to work, however! Luckily I kept the old ones.
However, after about two months of use, the wheel is starting to get that notchy feel again - not started to clank yet though!
Would be a great wheel if Thrustmaster could get the internal quality fixed - the external quality is excellent!
EDIT: It is now July - and the second one has now broken. Force feeback belt, which is meant to help with quietness broke and left me without FF. Also other internals came loose. I'm incredibly disappointed with Thrustmaster's build quality, I'd thought they'd improved significantly since the RGT, but to no avail. Logitech products seem sturdier, so it's time for me to save for a G25.