not for me, i just tried it out again to avoid mistakes and i confirm, for me damping works as a constant force, while Friction does reduce the force while i turn the wheel faster. So Damping works like Friction is described into the manual and vice versa!
Low latency mode is an early attempt to make the FFB feedback loop more stable. Seems to work well in iRacing, but high values seem to go over the critical point in rFactor2 and other sims, making the wheel seriously noisy.
We will add game specific recommendations on some of the settings to the user guide.