...Don't leave-out PGR4 this fall, but yes, there isn't much in terms of racing coming out for the 360 that would be all that exciting for "real" racing (yes, I'm eagerly awaiting NASCAR '08).
I do know that Microsoft has to license-out any after market stuff for the 360 and approve it for quality and such, and with their own product pretty much controlling the market (I think there is a MadKatz wheel now, isn't there?), I really can't see Microsoft giving out anything to anyone in terms of a new wheel.
...Of course, I very well could be wrong. I'm usually pretty good at that...
Honestly, I'm uncertain of how many people who play Forza2 really want the option of using a clutch and a manually-shifted stick. We've got to remember that we here at GTP are a bit of a different, usually more hardcore breed of racing fans when it comes to games.
Personally speaking, I'd be just fine with the current wheel, but thats just me... If you want Microsoft to change, you're going to have to address the source, or one of their underlying minions (like Turn 10 and Bizarre) to get these kinds of changes to happen.
Good or bad, we're stuck with what we've got. Sony is probably two years away from any kind of GT5, and the rest of the games will largely be made up with your various Need for Speeds, PGRs, and other arcadey-types to keep us all entertained until then.