Good news for anyone planning on buying the Xbox 360 Wireless Racing Wheel for Forza Motorsport 2's May 29th release date: the wheel will now cost $129.99 (a $20 price drop).

For the same amount of money, you could buy two full priced games or even a Nintendo DS Lite. But if you want to experience Forza 2 the way it's truly meant to be played, you're going to need the 360 racing wheel.

U.S. gamers can also look forward to the "Forza Motorsport 2 Race Weekend" which runs from June 1st through the 3rd. This event will include: "Play and Win", Livery contests, game sessions against the developers, and a leaderboard tournament. You may even be lucky enough to win a 360 Wireless Racing Wheel or other prizes.

More info from the press release can be found after the break.

Collect, upgrade and tune hundreds of cars. From sport compacts to purpose-built race cars, "Forza Motorsport 2" offers more than 300 cars from over 50 of the world's leading manufacturers such as Ferrari, Porsche, Nissan, Volkswagen, General Motors and Lamborghini. Players can take their car to the garage and install alternative engines, suspension kits, bolt-on superchargers, brakes, rims and racing slicks. Players can also dial in advanced suspension settings, tire pressure and gear ratios.

Experience an uncompromising physics simulation. Top automotive engineers, professional race car drivers and experienced programmers teamed up to create a complete racing simulator experience. Cars incur dramatic damage and wear, which affects vehicle performance. Advanced tire and suspension models that respond to heat and pressure changes as well as weight transfer and aerodynamic load are just a few examples of how the gamer plays both crew chief and driver.

Master real-world tracks from around the world. From the famously challenging Nürburgring Nordschleife to the green hills of Tuscany, gamers can race on meticulously designed tracks with an incredible sense of speed and realism. "Forza Motorsport 2" features 47 ribbons across 12 environments, including real-world licensed circuits such as Mugello, Suzuka and Sebring International Raceway.

Create and share a masterpiece with the world. Players can express their inner artist in the paint and upgrade shops with nearly endless personalization options. They can customize the shape of their car by combining different licensed rims, performance parts and aftermarket body kits and create a unique paint scheme using millions of paint and decal options. Then racers can hit the track and take in-game pictures of their creation in the "Forza Motorsport 2" Photo Mode, or sell their work of art to an eager community for in-game credits over Xbox LIVE ^® using the "Forza Motorsport 2" Auction House.

Literally feel the road, just like a professional driver. Through the rumble functionality in the Xbox 360 Wireless Controller, players will feel uncompromising responsiveness to every acceleration, downshift and turn, making the racing experience as true to life as possible. With the latest improvements to rumble, force feedback and wireless technologies, form and function are placed into high-speed gaming motion, letting racers feel every bump around the turns at famous tracks such as Sebring as well as the differences in handling and stability in each car they drive.

Compete in a vibrant online community. Gamers can take their personalized car onto Xbox LIVE for some intense online wheel-to-wheel racing. They have the option to compete in private online sessions with friends or in large public tournaments on Xbox LIVE in the seamlessly integrated "Forza Motorsport 2" Career Mode.* They can earn in-game credits and even complete single-player career objectives while racing over Xbox LIVE. Or they can sit back and watch the best racers from around the world compete on "Forza Motorsport 2" TV.