I have a MS Sidewinder FF (old) and a Logitech MOMO (new). There was a problem with the MOMO after 6 months, the pedals got screwed up. They gave a new one at the shop and I am satisfied.
For a couple of days I had to use the MSSW again. The rubber is corroded away, shreads of sweat stained rubber hanging from the wheel. It works perfectly. The optic system means it is always calibrated. I have no complaints..except the rubber. But my son and I gave it a run for all it was worth. It still a backup for us.
The MOMO is a fantastic wheel. You need to run the set-up after booting your pc, otherwise in most games (incl GP4) the wheel is off centre when driving straight.
It seems very strong, leather-not rubber! The aluminium pedals and paddles are very convincing. The wheel is very precise and a joy to drive. It is expensive though. Here in Finland they sell for EUR 175. The problem had with the first wheel has occurred in a few wheels. But as I said, It got replaced with no fuss. I love that wheel.
If your budget is tight buy the MSSWFF. I asked in the shop and they said that not one has been returned for faults. It's a nice wheel- but where some kind of handwear, if you drive as much as I do.
Larry
AMD 3000+,Epox EP-8RDA,Ram 1536mb 333 DDr, Rad 9800 pro omega 2.4.96, dx9b, Audigy, MOMO FF,winxp