Dynamic LOD reduction: Sets the value for the dynamic change of "Level of Detail". Zero means no, and one is full dynamic LOD reduction. This makes the Level of Detail change dynamically depending on how many cars are visible and on your current framerate. Use higher values if you experience slowdowns when multiple cars are visible.
sin[nk] states this:
Wheel turn is the value that determines dependence of car's wheels angle from controller's wheel angle (you can adjust this also with steering lock and wheel turn compensation). What you see in cockpit view - is the graphical representation of your actions. You can affect only smoothnes or nonlinearity of this, but car's steering wheel lock-to-lock angle is constant. (for example: mrt has 270 degrees and lx6 - 720)
AndroidXP states this:
Each car in LFS has a fixed wheel turn rate (which is what you want changed). If you set the "Wheel turn" option in controllers correctly to your wheels turn rate, then full lock on your wheel will always mean full lock in game, iirc. The wheel turn compensation will not alter this, but only the steering curve, which is linear at 0% wtc and gets more non linear the closer you move it to 100% (1.0). What wtc tries to accomplish is to make the steering around the center as close as possible to the one in the car.
Example:
Wheel turn 270°
LFS car turn 540°
Without wtc, 1° rotated on wheel is 2° rotated ingame, everywhere.
With full wtc, 1° rotated on wheel is 1° rotated ingame around the center of steering, but closer to 3-4° on the edges.
Basically, wheel turn compensation gives you more precision on the center and less on the extreme steering angles.
I don't know exactly what happens if you have more wheel turn available then the car in LFS (which is likely with a DFP). My guess is that the steering will always be fully linear, and on a MRT for example you'd need to turn your wheel more than 3° to turn it 1° ingame (hence the preferred method to catch a slide is "flailing arms of doom").