I haven't been on the Melbourne Wheel, but I have been on the London Eye a couple of times. If you are a tourist and like sight seeing then it is a great half hour ride, but for me, s someone who lives in London, it isn't all that exciting.
No. I remember seeing it when I was there and being told it was getting rebuilt. It looked a lot like the London eye. I'm not usually a great fan of heights, so not sure if I would go on this when in Melbourne.
I've been to the harbor town shopping centre and looked up at the structure, but never ventured to the wheel. No doubt it's inspired by London Eye, but this wheel's location had never fascinated me especially because taller buildings would anyway block the views and I'm not keen on the bay view too.
At one point I thought I should go but after it was dismantled and out back together, I want to give it sometime before I subject myself and my date to that experience. Kind of like wait & watch!