Yeah, but in this case, Logitech Gaming Software is your friend (if you have it). You can record key commands in LGS, then create 'cycle' commands that basically run through a number of key presses. I have one button that cycles tyre/damage/off and another than does live settings/strategy/off. Works pretty well.
But yeah, I'd agree that for people who arent using a logitech wheel, it would be helpful.