What are you guys talking about?! They fixed it over the weekend dirrectly following the 1.09 update. The new 'features' (wobble, etc) are still present but to a much lesser extent, and the weight of the car can now be felt again much like before the update. My feeling is that it is now a mix of the pre and post 1.09 FFB.
I think the fix may have had something to do with the PS3 update then, or maybe thats just coincidence and it was a micro update of some kind.
If the PS3 update was the fix then maybe some of you guys need to make sure your systems are up to date.
The other reason some of you may still be having problems is 'FFB clipping'. All wheels have clipping if the FFB setting is two high in the game. I mostly drive the Lotus 97T, and certainly with that car, 6 is the most you can run without clipping. This may vary slightly from car to car but as a general rule i would't advise any higher than 6 for any car. I run 4.
If you run higher your wheel WILL clip, and this essencially removes all the detail from the FFB. For example, with FB on 10, the wheels will use 100% force when the game is only outputing 60%. This means anything over 60% results in the same 100% from the wheel.
Here is a good explenation of clipping and why it should be avoided at all costs. Written by a highly regarded physics dev.
http://www.racedepartment.com/threads/like-your-ffb-strong-think-again.30763/
More than a few of my friends, who used to use 8-10 FFB, have since changed to 4 and reported its 'like having a new wheel' and 'changed the game completely'.
Clipping is real, and a major issue that should that should be made clear by PD in the wheel settings.