Yes that is right the wheel is confirmed at $450 and Euros: 450. Seems pretty expensive to me. Their was also news each wheel rim will cost between 150-300. Which again is again rather expensive.
Tomas also confirmed that ther is an option of adding static shifter pedals for rallying which is a great idea.
The wheel itself looks great and the see through casing is a great touch.
In my opinion they haven't perfected the wheels quick release system and the quick bit of gameplay on F1 2011 showed the wheel had too much deadzone which can be changed in the menus.

Heres some points from the guys at had to say.

Details about the base:

  • Fully made of CNC-machined metal, plenty of ball bearings, anodized surfaces
  • Quick release mechanism for exchanging wheel rims allows you to hot-swap a rim without exiting the game
  • 2 different rims will be available at launch (F1 + a larger diameter GT-styled rim that will be announced in mid-september)
  • Plenty of other wheels will be available later (Nascar, rally, drifting & more)
  • Compatible with all games on PC and PS3
  • Main target group for this wheel are the hardcore sim racers and it was said that because of that it has no limitations in the electronics, so they can do a lot of (software?) upgrades later on
  • This base does not use toothed belts like previous Fanatec wheels, belts inside have lengthwise grooves instead (Does this mean this wheel will move 100% smoothly?). He said that even if a belt gets a bit loose, it can not get damaged
  • Belts are high-quality made by Gates and Optibelt
  • Belt tension can be adjusted from outside without taking the base apart
  • Inside the base there is a mechanism that reminds us of the worm drive present in Frex wheels, but is actually a limiter made out of durable, good-gliding material and physically limits wheel rotation to 900°
  • Code wheel for the sensor is mounted directly to the steering axis rather than being mounted to the motor, eliminating any slack/lag that is present on the wheels with sensor mounted to the motor. This makes the wheel very precise and eliminates any wheel shaking on the straights.
  • There are two motors in the wheel (we don't anything about their power yet), making it faster, stronger and smoother.
  • Significantly reduced cogging force when turning the wheel.
  • Tuning options are the same as on previous Fanatec wheels, but they added better control over all 3 types of "effects" that games output to achieve different force feedback effects (force, spring, damper).
  • There are four screw inserts on the front of the base that will be used to mount optional attachments. They already developed steady shifters, but there will be many more attachments available (iPhone or Android phone holders for telemetry data, different shifters, etc).

Details about the F1 rim:

  • Made out of metal with alcantara grips
  • Rev-indicator
  • 4 way D-pad, that can also be pressed and turned
  • Analog joystick for free-look which can also be pressed
  • 11 standard buttons
  • Precise shifter paddles with short travel and good haptic feedback. Angle, distance, travel are adjustable and paddles are easily replaceable with different ones.

  New fanatec video of Tomas demonstrating the clubsport wheel.
It can be found here: on the video part of the site 

Please leave your coments below and tell me what you think of the wheel.
You can also tweet me on my own twitter. 06flocktona