While the jury is still out for me on the coolness of Beliefs, Instincts, and Traits, I have to say that I'm mighty impressed by the wheel/spokes.
I am super keen on this part of BW: you've got a couple of core mechanics. If you want, you could play with just those. Then you've got some mechanics that are more complicated, and you use them when you want to amp up the crunch and the tension. Then you've got your subsystems, and your degrees of crunch in those. It all comes together in a really cool way. (Getting more familiar with the rules helps.)
Fight! and Duel of Wits are also way cooler when it's a character you're emotionally attached to. That seems like a no-brainer, but emotional attachment is hard to define. I know one thing for sure: you aren't going to get it from practice fights putzing around with the Fight! mechanics. Jernezhasaphat vs. Elf Warrior was cool, but Jess vs. Baron in a duel to the death is awesome! (High stakes, high tension combat for the win. And darn, that guy had some good stats.
Shout out here to Daniel, who ran a darn good session. Of course, 'failure means conflict' helped alot, but that's just more props for Daniel for his implementation of it.