ruggbutt,
Yes, I set up the wheel in the Input section. It shows up as "rotator2" I believe. I was even able to tone down the sensitivity of it with "curve" control. It works great when it works.
Also, yes, I use CH Control Manager 4.0 to set up my HOTAS. I have stick, throttle, and pedals set up as a single device. The wheel throttle appears in Windows game devices as axis U. My setup in IL2 is very similar and that has been working flawlessly for a long time. I did a map for Falcon 4.0 in a very similar way as well a couple of years back.