I have tried the T500rs.. and will have one (F1) shipped to me pretty soon to review but in my opinion the fanatec will be better.. However i cannot prove it until I have reviewed both. (and its all about preferance)
Overall, it does come down to preference.
On paper, the force feedback of the Fanatec CSW seems like it will be better because of the twin motors (versus 1 motor in the T500). Twin motors to my knowledge can be utilized to help force feedback feel more precise, in addition to being more powerful. I don't think twin motors will make the CSW immensely more powerful in comparison to the T500, but if the power these motors possess is used correctly, the force feedback experience should feel much smoother. The T500's force feedback is already pretty smooth in its own right, so imagine what that can mean for the CSW if what I am saying is correct.
In terms of torque, I feel the T500 has the CSW beat. The T500 is a real beast in that area. Like others have mentioned already, the CSW still seems to turn just as slowly as the other Fanatec line of wheels. To further add to this, it still has the built in drift setting available to allow you to lighten the feel of weight so you can spin it faster. The T500, even when set to a heavy wheel weight in game, seems to spin just as fast, regardless of how heavy the wheel feels while you try to turn it. This is also why static flappy paddles were a good idea to include as a standard for the T500 and not as a later option. To me it seems like Thrustmaster also kept drifters/rally drivers in mind while approaching their design. Currently, no other wheel compatible with the PS3 has that same amount of torque.
Both wheels support quick release functionality. The CSW's quick release has an edge over the T500 because it supports being hot pluggable. For those who don't know why that would matter, being hot pluggable will allow you to switch rims while the wheel base is still turned on, maybe even to the extent of allowing you to do this while the game is still running. That is an awesome addition.
At the moment, both companies seem set on releasing a variety of rims. With the amount of hype Thomas has been stirring up over Fanatec's plan to support multiple rims, I can see Thrustmaster trying to counter balance that by continuing to create additional rims for their product as well, beyond the F1 add-on.
Now for accessories. It's a no brainer that Fanatec currently has the edge in this department. They have an existing variety of stuff you can already choose from with even more coming on the way. Pedal wise, the CSP w/hall effect sensors and load cell is top of the line. Thrustmaster's pedal set is not bad either in its own right, considering that it was bundled with the wheel and would probably cost less than the CSP if it was bought separately. It has an all metal design, built-in inversion capabilities, good resistance, the ability to use real after market pedal plates as substitutes for the current ones, and the brake pedal feels good once you install the mod they have included. The current shifters from Fanatec aren't saying much, and the premium shifters from each company are not out yet, so we'll have to wait for a proper comparison in that area.
To me it seems you can't go wrong either way. The CSW has a bit more going for it, and that makes sense because it will cost you a bit more to own. A lot of people were speculating what Fanatec's response was going to be to the new T500 wheel when it hit the market. Well now you have it with the CSW, and in my opinion, it's a damn good response. I can only guess that Thrustmaster might have more planned for the T500 so it can stay on par with all the things Fanatec has planned for the CSW.
