Yes, a wheel is virtually always faster, because it's simply the better tool to navigate a course with - there's a reason why they haven't changed the wheel since it was first used to steer an automobile over a hundred years ago. The one exception to this rule that I can think of was SuperCar Challenge, but this was because the pad users had a built in oversteer correction to the physics that the wheel users didn't have, so that any advantage the wheel users would normally have had was outweighed by the fact that pad users effectively had a stability control that they couldn't switch off - a driving aid.
TC is faster in F1 2011, it's not like GT where it dulls the revs and hurts your acceleration - it just holds the throttle any time you have too much and picks it up again as soon as the physics allow it, the computer doing all the hard work for you, to perfection - you cannot better it. The real advantage isn't so much the ultimate lap time in it, but rather the consistency it gives you as you're not penalised for using different amounts of throttle from lap to lap. Many corners you can take just as successfully without it, it's just you're less likely to. However, it's the kerbs which you can ride much more aggressively which gives you some genuine lap time with TC. And it's a massive advantage in the wet obviously.
Incredible!
Still, a nice drive.
