The price of this wheel has dropped across the board, perhaps indicating the unveiling of a successor (g29?). Same price on Newegg.com
From the manufacturer:
Whether sliding sideways around a gravely curve, or screaming through the streets of Monaco, with the Logitech G27 Racing Wheel, the world's greatest circuits feel closer than ever. Designed to deliver the definitive sim racing experience for the PC and PLAYSTATION3, the Logitech G27 Racing Wheel features a powerful, dual-motor force feedback mechanism that smoothly and accurately simulates traction loss, weight shift, and road feel; plus a an exceptionally quiet helical gear system that virtually eliminates steering noise. And then there are the six-speed shifter with push-down reverse gear; RPM/shift indicator LEDs; 11-inch leather-wrapped rim; steel gas, brake, and clutch pedals; and 16 programmable buttons plus D-pad. All of which add up to a level of performance and realism that you might not have thought possible.