If the gyroscope is perfectly accurate, and is not lagging, then why is it immediately inferior? Isn't force feedback simply a directional rumble? Couldn't it be sent to the mount which would then also rumble? This is using existing hardware to replace wireless systems and directional input systems. I'm not saying this would replace the $250 racing wheels, this is more an "entry level" racing wheel for people who want to spend $50 instead of $200. The mount would have a spring loaded/whatever loaded. Force feedback is also possible, as the whole mount would likely be a Wii remote to connect to the psuedo-classic controller pedals.
If one more person shouts "Digital triggers!" I will accept it as no one actually reading anything. You aren't holding it like a gamepad, you're holding it like a wheel. Wouldn't be touching the triggers whether it was digital or analog. Wheels don't have triggers.