I got second hand g27 - just yesterday
Price is one thing- you get the gear stick and pedals that are superior to all but Fanatec Elites or Clubsports. But also, the wheel has no ergonomics problems and seems to be well engineered (apart from the encoder cog that is reported to go bad with time, its replaceable though) - logitech's 3 year warranty speaks for their confidence in their product itself. Materials are not particularly great (they are decent- shifter looks a bit cheap, pedals are great, wheel is good), but
... I'd rather have good reliability.
Thrustmaster t500 later version (they 've updated quite a few bits inside) is good but pricey, has noisy fan. Plus, buying second hand is still £250, which is too risky for me. I was really set on getting the new Thrustmaster TX which is like t500 but with brushless motors, but avalanche of bad reviews on the US river site have put me right off. Plus it does not come with clutch pedal or gear stick.
Whatever you choose it will be a compromise. G27 is best one for me - reliability, function and (last place) looks. Its great for drifting. I was really apprehensive about its slow countersteer, but no, its good, certainly not slower than Fanatec non-Elite/CSW wheels). Massive upgrade over my previous logitech DFP (which I got in 2005 and it still works fine!)
In the Fanatec Elite price range, I'd go for t500 or updated TX. THose wheels have the fastest countersteer FFB, and better motors. But this is based on choosing function over form again as Fanatecs are undoubtedly better looking and have better materials of the externals