I am relatively new to sim racing so my review will be focused on a newcomers experience.
Having played on a Logitech G27 and hearing this was better. I decided to pick one up.
My first impressions is that the wheel is quite large mainly because of the powerful motor and fan. It makes the g27 look kind of small and toy like.
In use on Gran Turismo 5 the wheel gives an exceptional experience for newcomers and is how the game should be played, force feed back is powerful allowing you to feel the bumps and terrain change in the road and collusions with other cars to be felt which can send you spinning (unlike if you use a pad). Steering is a joy with the wheel, the wheel being powerful and smooth in taking turns and the wheel recoil in drifting feeling like a real car. The shifting with the fixed paddles takes getting use (but once you get to use to it its really satisfying clicking up and down)to and the lack of a gear shifter is a slight let down for such an expensive product.(It is coming out supposedly latter this year)
With the pc drivers out now PC support is good with Richard Burns Rally being really good in terms of showing force feeback. (I have heard Iracing is good I have not tried it with this). Settings on PC allow for changes to force feed back and other additional variables. PC is well supported so you can use better pedals and shifter combination with the Thrustmaster wheel.
The pedals are solid and better then the G27 in practical use. I'm not too keen on the silver face plate its a bit too flash for my taste. I have not applied the brakemod. The pedals can be used in either Rally or f1 mode. I'm use them in F1 position with
Playseat Evolution Black (Wii, Xbox 360, PS3, PS2, PC) . The pedals are difficult to attach and I have had to use a additional drilled plate and washers to attach it. Playseat have announced a plate to attach the pedals but, will only be available later this year. The wheel is easy to attach to the centre steering column. I have just used the clamp and it remains secure (If possible I would recommend drilling for better stability). I have found the wheel so powerful at times that I have placed some padding under the centre column to increase it stability as the column on the seat is not completely level where the axis is and will vibrate. I suggest a Gamepod rig as an better alternative which I tried at my friends for better stability.
If you don't have a wheel and have a PC and PS3 and the money. I would recommend to get this now. If you have a G27 already or a Fantec steering wheel the decision is more difficult. The wheel is exceptional, but those with the Fantec perfect pedal may want to wait for Thrustmaster to release just the wheel in the future.
If you have a G27 its a hard decision as the G27 wheel is a good wheel and buying another may seem a bit of a waste. I would weigh up if you like Gran Turismo alot (I mean really alot) then the G27 does not cut it and I would upgrade. If you don't play Gran Turismo much I would consider waiting and see whether Logitech or Fantec release an upgraded wheel.
The Thrustmaster does not seem to have much PS3 support, with older games not working with force feed back. Of the new games coming out such as Dirt 3 and NFS Shift 2.It seems Dirt is the only one confirmed to support this wheel. On shift it seems the wheel at the time of this review is not in their supported wheel line up. So if your only using this with PS3. I would recommend waiting to see if additional games have confirmed support before purchasing.
update 250511 : Dirt 3 has full support with this wheel on PS3 and PC.
update 150911 : A shifter
Thrustmaster TH8RS Shifter (PS3) and F1 2011 removable steering wheel are soon to be released to complete this great steering wheel package.