I have the Momo also, I had the Microsoft Wheel and it was pretty good but the MOMO is more resposive in my games.
You can make the foot pedals combined or seperate if the game supports it. NFSHP2 just made a patch for independent foot controls wich are better because you can ride the brake and gas at the same time.
The leather wheel is very tightly wrapped on this thing and it feels solid but looks cheap.
F1 2002 it rocks, very responsive with this wheel and smooth.
I have alot of race games and everyone plays smooth with the MOMO.