Wrist Twist steering? Vintage technology at its finest.

I'm a sucker for vintage "news" from the auto industry, and stumbled across this video about "wrist-twist" steering controls.

Click here to watch it on YouTube.

I found it at the Just a Car Guy blog.

So basically this:

times 2

^ Used to joke that those chain steering wheels were used to hide that the driver was wearing handcuffs. Also joke that it made the driver feel more at home, just like he was wearing handcuffs.
That wrist-twist steering look pretty cool. Wonder how well it would work on a performance car. Power steering naturally. Would fit well with the new "drive-by-wire" technology used in many modern cars.