AFAIK the "cheap" Momo wheel is "cheap" only in some of the materials - plastic instead of metal.  I don't believe there is any significant difference in mechanism, electronics, or performance.
I have one that I used for about 4 months, and was perfectly happy with it.  I only got the DFP because I wanted the 900 degrees travel.  The 300 or so degrees on the Momo wheel is perfectly suitable (and accurate) for F1 racing though.