Such as that it doesn't support 100% of racing games and the buttons arn't re-mappable (it's PC compatible you idiots... download the pc drivers off of microsofts website) and that it can be overly sensitive.
Again, I just listed a cheap wheel. Obviously, the more you spend on a wheel, the more robust in feature set, reliability, and feel it will have, yes? For $30, it's a wheel.
Wheel's range from $20 cheap things (I've used this in underground -- it wasn't bad) to $250 goldmines. Obviously, you get what you pay for in most cases... although... I would never go with a first party accessory because they're normally overpriced and either worse or comparable to soemthing cheaper.