Advantages:
1/ Accuracy. Extremely prercise steering and gas/brake. I used this wheel for GT5P, I managed to beat all S class in Spec II (much harder than Spec III), I got silver in S10.
2/ Quality built wheel. Leather cover, very solid build, single large powerful motor to emulate life like force feedback
3/ Wide range of adjustments. Can save 5 different config profiles, of which you can change force feed strength, sensitivity (900, 360, 180), and vibration.
4/ Good design. The wheel is a true piece of art, it makes Logitech wheels look like mere toys. Buttons are LED lighted, very nice. Wireless allows you to have the wheel several meters aways from your TV (very good if you have a big TV and big lounge). the shift nob can be installed on either side of the wheel, this is a very good feature comparing to logitech Driving Force GT, which has the nob fixed on the right side (i.e. the wrong side for us kiwis).
Disadvantages:
1/ Pedal losing signal. I first thought it was a wireless issue so I took out the batteries from the pedals and used the cable, I still lose signal from time to time. It is very annoying when you have been driving hard for a 15 minute race to keep in the lead, and then suddenly lose power and the race.
2/ Compatablity. Because it is not developed with Sony in close relationship (compared to Logitech), it is suspectable to incompatiblity. When GT5P Spec III was released, the wheel stopped working, you have to update the firmware. Now it is affected by the christmas bug. no firmware fix is avaliable at this point of time (15th Jan)
3, No Screws. The set comes with a screw driver, seemingly intended for installing the steel pedal weight plate, but inside the the box I can find no no screws! I am about to contact Mighty Ape about it. Maybe it is just me.