I went and read his post, quoted below for the people here. It sounds like all the dials on the face of the wheel are fake, which is sort of a bummer, but everything else except those work.
I think it's not really as bad as it might seem, considering just how many controls there actually are: 2 paddles, 8 buttons, 3 switches, 2 rotaries, and -2 analog sticks-.
Amusingly, this adds up to the exact number of functions, ignoring the motion sensor, on a DS3 controller, assuming the analog sticks on the wheel are not clickable, and you map the paddles to clicking the thumbsticks, and the rotaries to the d-pad functions.
That's all in addition to the basic wheel/pedals of course, and perhaps the original paddle shifters and L3/R3 on the T500 base, plus the shifter if one buys that too.