In game, I set the menu to the arrow keys, up = up, down = down etc.
I bound a macro to my G15 keyboard profiler for the G buttons for wing & engine settings etc, like up, pause 0.1, up, pause 0.1, up, which works inside the game, so if I press one of the G buttons, ie G16 = Engine map fast, G13 = Engine map standard it does the appropriate in game menu actions etc.
I then created a profile for the G27 wheel, using the F1_2010_game.exe (not F1_2010.exe important!!!) and put all the wheel settings the same as the default, I think going over 100 on any of them apart from degrees of rotation causes the wheel to judder violently and you then have to reset everything.
In the wheel profiler, I then recorded the commands for each button by pressing record and then a G key (G16, G13 etc), which I had previously bound a macro to. This assigned the keystrokes from the G key to the wheel's button.
Now, if I press one of the wheel buttons, like the top left, it automatically assigns my engine to fast, middle to standard, top right to wing high, middle right to wing low.
Hope that this helps.