Logitech makes three current steering wheel models for the PS3. At the top of the line is the $300 G25 Racing Wheel, a superpremium "simulator-grade" product that boasts a hand-stitched leather wheel, a six-speed shifter, and metal pedals. Further down the line is the Logitech Driving Force GT. It's a more mainstream version of the G25 that still features force feedback and 900-degree rotation, but the wheel, gearshift, and pedal setup are all downgraded a bit--saving you half the price of the G25.
The Driving Force GT was still a wired model that required you to connect a cable to your PS3, clamp the wheel to a table or desk, and deal with the foot pedal setup as well. That's why Logitech created new a entry-level model: the Driving Force Wireless. It's a one-piece steering wheel that--as its name implies--is wireless (except for the power cord) and is designed to sit on your lap without any clamping required. The gas and brake "pedals" are flaps positioned just behind the wheel. To hit the gas or brake, you pull up on either flap with your hand. (Wii users take note: Logitech offers the nearly identical Speed Force Wireless, which is optimized for the Nintendo console.)
The Driving Force Wireless lives up to its billing as being simple to operate and easy to set up. You plug a USB dongle into one of the USB ports on your PS3, then connect the AC adapter to the steering wheel, and plug it into a power outlet. (For whatever reason, the wheel doesn't use the PS3's built-in Bluetooth, which is why you're required to use the included dongle.)