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On paper, it's a clear win for the Moza R12. With 3Nm more torque and identical drive type and compatibility to the Moza R9 V2, it should be the better choice for sim racers who need raw power and precision.
I've seen users struggle with overheating issues on both wheels, but the R12 seems to have a slightly more consistent track record. The big problem here is that when it happens, you're left with a wheelbase that's as useful as a toy car in a sandbox. I can relate to the frustration of watching your FFB drop to 50% or worse after hours of racing, only to be told by customer service that "it's not a known issue" while they pretend to care.
Users are reporting similar issues with both wheels, but there's something about the R12 that makes it feel like a premium product. Maybe it's just marketing magic, but I've seen users rave about its performance without mentioning any of the usual caveats. Still, it's hard not to notice the trend: if you're going for raw power and don't mind paying top dollar, the Moza R12 might be your best bet.
For sim racers on a budget who just need something that works without breaking the bank, the Moza R9 V2 is still a good value for money. It's more affordable and has its own strengths, like being a great all-around wheelbase for casual gamers or those new to sim racing.
However, if you're an experienced sim racer with deep pockets who needs raw power and precision, the Moza R12 is your best bet – flaws and all. Just don't say I didn't warn you about those overheating issues...