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The guys at Carraviglio aparently tried...and found it is not interchangable. I dumped the C5 steering wheel and did a custom install of a Momo sterring wheel....MUCH nicer for spirited driving, quicker response and great hand grip.....Oh, yea, I should also ad that I have been driving non-airbag cars for more than a third of a century, so I have no qualms about no airbag, although quite a few Forum members are scared of not having them. They are NOT allowed in race cars. I also have Schroth 5 point racing harnesses. You can see the Momo at our web page in my signature.
I would very much like a smaller wheel. The C5 wheel diameter is HUGE.
I do however still want to keep the airbag (just my choice) so an aftermarket wheel is out.
I know that some of the vendors sell leather covered steering wheels where you replace the entire wheel (bolt it to the center area). It seems like there's enough room to make the diameter 1/2 to 1" smaller and this would be awesome.
Oh and by diameter I mean the diameter of what you rotate, not the grip diameter.
If someone came out with a replacement wheel that kept the airbag and mated to the stock center but was smaller I'd buy in a minute.