Just installed a gray Circle Cool pvc perforated vinyl steering wheel wrap from eBay (see attached photo). Much cheaper tan the leather options but looks just as nice. It's sewn on which looks much better than the covers that slide over the steering wheel.
Almost anything is an improvement over the hard plasticky steering wheel they put in the Prius line. I think the Wheelskins leather cover is worth it. Love the smell of genuine leather. For a bit more, the original can be purchased at a really good price: http://pages.ebay.com/motors/link/?nav=item.view&id=271002864049&alt=web
I've installed wheelskins on two other cars before. Never really liked the chunkiness and sewing method. The Circle Cool is similar to the installation method from Redlinegoods.com leather steering wraps which is cleaner, seamless and looks OE.
I think the cover looks great. And I have to agree that the OEM standard steering wheel is horrific without any modification. I went with a wheelskins. I'm happy with it. For me? Just personally- I'd rather go with a leather wrap than a vinyl wrap. Leather kind of wears with you and use, over time. I actually think my Wheelskins cover feels nicer today, than a year ago. Not sure you get that benefit with vinyl. But it does look great, and it has to be a huge improvement over the standard steering wheel with nothing. When I first got my Prius I absolutely hated the steering wheel. I don't know who at Toyota thought plastic...and not just plastic, but plastic with the texture of sand paper was a good idea.
I've been looking for one just like that but the sizes I'm finding are all over the place. You don't happen to have a link to the ebay auction you bought it from do you?