All I know is that
an official price-drop is rumored to coincide with Forza's release. I can't think of any other reason than an even beter, "Elite" wheel being released for Forza at the same time. I mean, why drop the price as soon as there's finally a good reason to pay it? It can only be to make room for the other one.
I just bought a Wireless Receiver (PC USB) for XBOX 360 accessories so that I could nab one of these wheels as soon as I saw them cheap. On the back, it says it doesn't support Force Feedback! I looked and there's no mention of support or non-support in Microsoft's help, readme, or knowledge base. I did find
a product page that says "Future drivers available for Windows Vista™ and Force Feedback for the Wireless Racing Wheel." which seems to indicate that the only FF limitation is for the racing wheel. That's still bad news for me, but at least they're working on it.
I do own two wireless XBOX360 controllers but I can't charge them because I have no Play 'n' Charge kits, so I am still really just assuming that FF works on standard wireless controllers.
IIRC, the Wireless Racing Wheel had problems where it would not support FF even when plugged into AC unless you connected the USB cable. Because XBOX 360 wireless controllers only support PCs using the Wireless Receiver (USB dongle), this wouldn't help the wheel when used with a PC (the USB cable will only charge a wireless controller controller and request a non-existant driver, but it will not adapt it to use the XBOX360 controller's USB driver). Ifcorrect, that's a major reason for a new revision even if MS thinks they can fix it for the PC (probably just by adding Play 'n' Charge support).