Ferrari 355 Steering wheel and paddle shifter removal 

Love the cat that makes a cameo at 5:45

Well done for taking this project on

The F1 warning light shouldn't illuminate if you remove the old F1 display. The display supplies an earth for the lamp (according to the Workshop Manual)

What did you do with the old centre dash (three gauges)? You probably need to redirect the (grey/yellow) wire from the old oil pressure gauge plug wiring in the centre dash to the new instrument in the main instrument panel.

You could have just removed the four allen head bolts off to get the wheel off