From their official site, to quote: The F-1 converter v2 has been added, including some new features like Shifter, Sensitivity and Force feedback level for G25 / G27 / GT racing steering wheel to be used on XBox 360 console.
XCM F-1 Version 2 Converter Functions and Features:
New functions (Shifter, Sensitivity and Force feedback) added
Compatible with all versions of XBox 360 / XBox 360 Slim, PS3 / PS3 Slim consoles.
Built-in converter allows you to use G27 and G25 racing steering wheels on XBox 360 with XBox 360 racing games.
Plug and Play.
Built-in Combo Attack function on 5 Memory Buttons - Program up to 20 button combos to a single button to pull off devastating moves at will!
Enable Rapid Fire/Turbo on wired XBox 360, Original XBox and PS3 controllers when connected to your XBox 360 / XBox 360 Slim, PS3/PS3 Slim consoles.
Supports PS3 SIXAXIS games.
Supports analog stick tilt functionality on XBox 360 controller for the PS3 console.