The Wheel Guy, better known as the Spirit of Fortune, is a mysterious person who seems to show up anywhere and everywhere in the game. Whether you're questing in the Mounds or having a good time mingling at the Royal Court, you can almost always expect the Wheel Guy to randomly show up with five different items. You're allowed to choose 1 of the 5 items that he offers to you, and if you choose correctly, you get to keep the item. You can get just about anything from him, and he even gives out weapons that are normally bought in stores.
Getting Marks
One of the five items that the Wheel Guy will always offer to you is Marks. Although most people probably aren't going to want Marks from him, you can elect to receive a number of marks that's equivalent to half your level times 100.
Automatic Arrival
If you create a new character, the Wheel Guy will always show up on your very first quest.
Unique Items
There are some items in the game that can only be received from the Wheel Guy, such as Diamonds. Diamonds are by far the rarest of all the gems in the game because they can't be bought in stores or dropped by monsters. If you're lucky, you'll also be able to get your hands on store-bought weapons with rare attributes, such as a Broad Sword with Disease.
All That and a Silver Platter
Prior to June 2006, the Spirit of Fortune used to hand out Silver weapons but has since discontinued this practice.
Another Disappearing Act
As if the removal of Silver weapons wasn't bad enough, the Wheel guy will no longer offer any weapons at all as soon as the next DC upgrade is implemented. The value of wheel-specific weapons, such as a Sling with base stats of 6a/6s, aren't expected to increase due to the low demand for these weapons.
Who is he and what does he do?
It's said that the Wheel Guy was added to the game in order to prevent people from taking advantage of Macro programs. With Macro programs, people used to be able to do things such as battling specific monsters or enchanting their weapons without the hassle of having to point and click all the time.
Screenshots
The Wheel Guy