Well I’m going to put my views on the table here. Don't take this as product/personal bashing as it's not.
I've been using it now for about 14 hours and cannot fault it; I've found it to more of an enjoyable experience than my MSFFB and X52. Re: the comments about it feeling "cheap", I cannot for the life of me understand that, it doesn't feel cheap at all. It's extremely solid and when running through the calibration routines for the FFB effects I thought I was going to injure myself at one point as some of the effects are really strong.
In terms or programmability, any function in a sim (I’m using IL-2 & FSX) can be mapped to the HOTAS, I've actually found the Profiling software much easier to use than Saitek's which to me is saying something. The profiler also has FSX / IL-2 key map pre-loaded so it’s as simple assigning a sim function to a button or rotary and you’re done, I spent at the most about 1/2 hour setting it up for IL-2. As with the X52 software I rejoiced in that fact that you can also map "Zones" or "Axis" to rotary's e.g. I have all the FOVs mapped to the throttle R1 rotary.
All the FFB effects can be adjusted from 0% to 150% (150% will shake the desk

), you can also adjust the spring tension and dampening along the same scales. This has been great for tweaking as I have noticed a huge difference in the way the FFB effects work b/n sims, but that is the sims themselves not the stick. You can also set a spring tension for sims that don’t have FFB built in. My only gripe is that FFB settings can only be set globally; you can't set specific FFB settings for individual sims.
In terms of standing the test of time, yes I agree with many here about that, time will tell, but the same can be said about any new piece of kit. If the G940 is built to the same standard as their FFB racing wheels then I'm not worried. My brother in law has had his FFB Momo Racing Wheel for over 6 years now and it's still running the as good as when it first came out of the box. Yes products do have faults, and there is a given 1% failure rate for most massed produced products, but so far I have had no issues.
I'm happy to say that as of right now, after getting it home and setting up, I haven’t ended up with that disappointment feeling like I did with the X52. For me the G940 works and it works well.