Short version
Was awesome when I got it and still is.
Long version
Very nice force feedback overall, though I have three negative points/observations:
1) Notchy feel when rotating while high forces are acting on the wheel
2) Rotates fast, but still too slow to keep up with the ingame wheel at > 270° rotation
3) Can get rather loud when having to rotate the wheel against the FF direction
Nevertheless, the FF is superb. There surely is better out there, but not for that price.
The pedals are very nice and sturdy, providing good precision without any calibration problems whatsoever. The strong resistance of the brake pedal might take a little getting used to, though. Ergonomics are a question too; heel-toeing might be a bit awkward and uncomfortable, depending on the size and shape of your feet. Another thing I noticed was that the default angle of the pedals was too steep for me and caused cramps, but it was easily fixed by stuffing
something under the front part of the pedal base.
The wheel itself is of very high quality, paddles & buttons are working without problems, though it could use some more buttons on the wheel. Some people reported problems with the paddles, where quickly letting go of one could activate the other (the paddles are one connected metal piece), but on my wheel I cannot even get it close to swinging back far enough for that to happen. The leather is well made and nice to grip, but a bit of a bitch to clean.
The shifter works well too, after you get over the fact that it is very light, flimsy and not really H-gated at all. It is probably the part of the wheel that disappoints most when you first try it, but its not really *that* bad. The clicking is a bit annoying, but then again I have an old revision and supposedly the clicking is reduced in the newer ones. My shifter also already suffered from reverse gear failure, though it was easy to fix with a bit soldering action (a cable broke due to fatigue).
Overall I'd give it an 8/10 score by the features themselves, upped to a 9.5/10 score when taking the price into account. There's simply no better bang for the buck on the FF wheel market.