Dijital MajikExactly scoddee. It doesn't need branding or to copy exactly a specific real-life F1 wheel. All that matters is that it has the look and all the little extra bits not on the formula rim, that you'd expect on an F1 wheel such as a rev meter with gear and delta display, more labeled buttons, more rotories, clutch paddles, carbon fiber look etc. I'm sure Thomas's team could come up with a generic design taking elements from all the F1 wheels currently in use and come up with something that looks like it would fit on a generic F1 car. That is what I meant by 'realistic'.
Licensing is great, but if it hikes up the price too much or limits the features because of cost, then as scoddee says, functionality everytime.
We are definitely reading from the same page here, couldn't have put it better myself!!