[quote name='Spanky']Wow really. I was seeing them clearanced a few months back around here for $50. I remember when they cost $100. I didn't know they skyrocketed in price.[/QUOTE]
A quick look on amazon shows the MS wheel listed for $130, so no I think you are thinking of different wheels. Who would pay $550 for the MS wheel when other wheels in that price range are so vastly superior?
P.S. Why is the Logitech G27 listed for $999? Did they stop making it or something? The new thrustmaster wheel is like half that, retail price.
OP, look at fanatec's products. I know they released a lower end version of their wheels recently which might be more fitting for your budget. Basically they took their high end wheel, swapped the leather rim for a plastic one, swapped the motor for a weaker one, and changed the belt drive mechanism to a geared one (like the Logitechs have). Only issue is that the budget wheel might not be 360 compatible I dont remember. Seriously consider buying piecemeal and getting the clubsport pedals- they add as much to the driving as the wheel does- particularly with the load cell brake. They're easily a $400-500 pedal set for $200 or whatever. A great price for a quality product.
A pretty decent site for reviews is insidesimracing.tv- they have shown/previewed/reviewed a fair amount of racing hardware on their video podcast.