Alright so I sat down and did some more running tonight, it's not perfect by any means but it's much more to my liking, so...
Disclaimer: I am not claiming these are "THE FFB settings" for CSW v2, they are merely a happy median that I have found after spending a few hours tweaking and testing, and I'm sure it's possible to improve on these settings. My testing have been highly unscientific and purely subjective. They fit me, my driving style, my preference in cars and my expectations from FFB. You may like them or hate them, I put them here for free
I prefer my FFB quite loose, I don't want to fight the wheel on straights or when just cornering, I find it also offers me much faster response when the back steps out. I might be clipping with these settings, don't know for sure. I do occasionally feel some yanks in the wheel, dunno if this is due to bumps or spikes in FFB, perhaps a physics related shift effect which is still present even if the canned shift effect is set to 0%. Going off road will also make the wheel yank and fight you a lot, but I tweak my FFB for ontrack driving not offtrack
All testing and tweaking was done with the GTR3 SLS AMG on Zandvoort using the BMW GT2 rim, then tested with other cars and tracks. I have not tested with the formula rim.
Some thoughts about the different settings and how I felt they affected FFB:
Understeer: I could not find that this did much positive to the FFB at all, on the contrary I felt that if I added too much of this I lost detail and the FFB went a bit limp.
Vertical Load: This gave me sensation of weight transfer and road feel, made a big difference in feeling bumps and kerbs (without the canned kerb effect further down). Running with high Vertical and no Lateral gave me a loose wheel but with enough information to feel what the car is doing beneath me.
Lateral Load: This adds quite a bit of weight to the wheel, I think this adds a fair bit of feel from loss of traction too. If I run high Lateral and no Vertical I get a very heavy wheel with enough information to feel what the car is doing beneath me.
Vertical and Lateral Load: So basically you want a little bit of both, as they both give good info on whats happening with the car, it's about finding a balance between these two that fits your expectations from the FFB.
Steering Rack: To me adding this setting (aka going above 0%) just makes steering feel less connected, so I run it at 0%.
Smoothing: I add a wee bit of smoothing just to take the edge out of the worst kerbs, I don't like it when my entire desk is shaking and waking up both family, neighbors and Steve Jobs.
Drift (on wheel): I add a bit of drift on cars that have a tendency to step out quickly, like the Gr 5 cars, just to make it easier to catch.
My settings:
These settings feel best with the newly updated cars (GTR3 class for instance), but are passable on older cars as well, if they feel floaty or weak on feedback try adding in some more Lateral Force (and perhaps removing some Vertical if you feel it's clipping).
On wheel:
Sen: Aut
FF: 100
Sho: 100
Abs: 085
Lin: Off
Dea: Off
Dri: 0-5 (depending on car)
For: 100
Spr: Off
dPr: Off
Ingame:
FFB Intensity: 75%
Smoothing: 5%
Damper, Spring and Friction: 0%
Steering Force Intensity: 100%
Understeer: 20%
Vertical Load: 200%
Lateral Load: 50%
Steering Rack: 0%
All canned vibrations and shift effects: 0%
So there you have it, hope it helps anyone, oh and if your FFB is floaty then pCars -> that way