In my lounge setup, i could never comfortably use a traditional wheel. Im sure the same can be said of most people in their gaming setup.
From everything i've read about this, it mounts onto something. Off the top of my head, i cant think of a single thing it would mount on, that would make it any more usable than a traditional wheel.
If Microsoft can bundle this with a simple lap mount, then they can cure a problem that will always prove troublesome for driving games. If not, and nobody makes such a mount, then this product is completely useless.