Just wanted to give you guys a heads up and say that this is no longer an issue even on newer versions of Dolphin for me guys. I've found a solution that turns my FFB wheel into a Logitech G27, and the game now delivers properly directional force feedback 
http://www.neogaf.com/forum/showthread.php?t=1306495

http://www.neogaf.com/forum/showthread.php?t=1306495
