When buying a wheel their are a number of Factors that should influence your decision: 
  1.   Price ( How much are you willing to spend)
  2. Platform ( Xbox 360, PS3 , PC
  3.  Luxurious or Racer
So here are the wheels I recommend:


Logitech DFGT: (£89) (PC/ PS3) (Racer)
Great budget wheel with strong FFB.

 Pros: 
  •   The best force feedback from a wheel on this budget.
  • The Price
  • Comfy in hand
Cons :
  •  The pedals are pretty terrible due to lack of resistance and Feel
  • Very loud, however you quickly get used to this. 
  • Lack of proper flappy paddles
Overall if you are on a budget and would like a FFB wheel for PC or PS3 this is the wheel for you

FULL REVIEW FOR DFGT
 
Logitech G27 (PC/PS3) (£240) ( Racer)
The best force feedback wheel Logitech offers comes with a 6 speed shifter to.

Pros:
  •   The best force feedback that Logitech sell. Similar to a Fanatec in many ways.
  • 6 speed shifter
  • Great pedals
  • Metal Flappy paddle shifters
  • Rev counter LED display
Cons : 

  •   The Price is pretty expensive

Fanatec GT3 RS (PC/PS3) (£330 with Clubsports) (luxurious)

Made out of Alacantara Leather the wheel feels great and makes you feel like your in a porsche. 

Pros:
  •    Belt driven FFB is the smoothest around. Just like the GT2.
  • Clubsport Pedals
  • The porsche badge
Cons:

  •   The price. However i have a feeling thats down to the porsche badge.

 Fanatec Carrera Wheel (159.95) (PC/PS3) (luxurious)

The carrera wheel is a great budget wheel from Fanatec.
It doesn't come with the Alacatara leather and the FFB is belt driven.

Pros
  •  Comes with 6 speed shifter
  • Comes with sequential
  • Pedal set includes clutch
  • Porsche Bag
  • Good quality FFB
  • Price
Cons

  •   Not alacatara leather
  • The pedals don't provide much resistance 

 Upcoming wheels
Their are also upcoming wheels to consider from company's like fanatec i.e. the clubsport (F1) wheel and the CSR elite wheel and CSR standard wheel.
All will have a race like finish to them and both will be high-end wheels with the CSR standard being the cheapest of the trio. The CSR elite and Clubsport wheel will both have interchanging rims with the clubsport having a quick release switch unlike the CSR E which required you to screw and unscrew various wheels.

 FANATEC WHEEL COMPARISON HERE
 
To round off the guide I would say all all the wheels here have positives and negatives but it is all about what you want from  wheel. For example if you only want to use it for road cars and you want it to have a road car feel then a Fanatec is for you. If you want a wheel for a game like F1 2010 or 2011 then currently your best option is the Logitech G27 unless you are on a budget.
Feel free to use the contact me section of the site or my email: wheelreviews@hotmail.com or even the dedicated forums for help choosing a wheel. Thanks