This model offers force feedback, but it isn't quite as strong--and the wheel just isn't quite as tight--as the force feedback on the step-up Driving Force GT. In short, if you're looking for a wheel that has a truer race-car feel to it, this one probably isn't going to cut it, but it definitely enhances the driving experience compared with using the PS3's controller.
Note that the Driving Force Wireless works with the PS3 and the older PS2, as well. The full list of compatible games is available at Logitech's Web site.
In the end, the key selling point is the wheel's convenience factor. To make sure you don't lose the USB dongle, there's a little compartment for storing it when the wheel is not is use. Yes, it would be nice if the wheel had a place for storing the AC adapter, too, but as it is, you only have to deal with the wheel and that power adapter, so packing it up and stowing it in a closet is easy.
Since their release, the gap in price between the Driving Force GT ($150 MSRP) and the Driving Force Wireless ($100 MSRP) has narrowed, with the GT seeing more of a discount than this model. Ultimately, what it comes down to is whether you're willing to sacrifice some performance for easy setup and break down. We suspect more people will opt to go wireless--and pedal-less. But Logitech's got you covered either way.