I like a nice 11/4 or 5 myself. Usually drop the one hand and just hold and 11 or 4 or 5 by itself. I also use 2 by itself on occasion. So how do you hold your wheel?
Well if you don't want to deal with broken wrists and burn marks you should hold them around 5 and 7 in most newer car models. I've seen it happen before and it looks painful! So if you have an air bag, you don't want to use the old standard.
That said, I keep forgetting and finding my hands at 10 and 2 like I learned in driving school every now and then.
5/7 except when making tight turns. It just feels natural for me to do that, with the left hand drifting up to do the turn-signal thing whenever it has to.
11/2 or just 11. Going that high allows me more control, and will probably help me avoid an accident all together. As for potential burns on my arms from the airbag deployment? Hey, man, whatever. I'd rather have a few scars on my arms than get nice and intimate with the dashboard.
With two hands, it's usually 10/2 which I find comfortable while most people I know don't. Most of the time though I drive with just my right hand on 5.
two hands: 10 & 2 (this is usually when i'm driving in traffic, driving fast, or just more careful than normally)
one hand: usually at 10 (this is when i'm casual and relaxed) - my other hand sits on the shifter.
For 1 hand, I use the left because you can still use the turn signals.
I steer with my perpetually erect penis. But when I get tired of that, I just tilt the steering wheel as low as it'll go and generally steer with my hands on the bottom of it - whatever's necessary to have to lift my arms as little as possible.