As Jeff stated, the "correct" steering wheel is the plastic woodgrain wheel.
I've seen a lot of "restorations" of these wheels over the past 40 years, and I personally have never seen a restoration that really matches the original look. The "restorations" that I have seen also eventually crack again.
There have been various reproductions available over the years that were not so great, but now we have one that I really like. The finish on the spokes and the color/grain on the woodgrain plastic looks really, really nice. I would not hesitate to use this steering wheel on any high end restoration.
It comes complete except for the cap (we have a very nice reproduction of that too). Click on the picture.