In the center of the card is a circle with various symbols inscribed within. Among these are Hebrew letters and English letters alternating. The English letters spell out “TARO” when reading from the top of the circle going clockwise. Mounted atop the circle is a sphinx with an Egyptian headdress and bearing a sword. On the viewer’s lower right is a male humanoid figure with an elongated face and horns or long erect ears. On the left side is a very long snake appearing in the process of side-winding down the card. This central scene is surrounded by clouds. In each corner of the card, appearing to be resting on the clouds, are four winged figures bearing books. On the viewer’s upper left is a humanoid figure. On the upper right is an eagle. On the lower left is an ox. And on the lower right is a lion.
Interestingly, I see Waite’s wheel as being mounted vertically, while Crowley’s wheel is mounted horizontally, backgrounds not withstanding. Both versions represent the same basic interpretation for me: Luck, and the fickleness of it. While generally the Wheel of Fortune is a neutral card of good luck, sometimes what appears to be an unexpected boon can quickly reveal itself to be a worrisome burden. Not all good things are good for you.
When dignified by other cards, what type of luck it bears for the Querent is altered. Wheel + Death = An end to a string of luck. Wheel + Magician = Make your own luck. Wheel + 7 of Cups = False or deceptive chances. Wheel + 3 of Cups = Your luck is about to payoff.
Wheel + Court cards can mean the Querent has better favor with who the court card represents, or that the court card is going to influence the Querent’s chances. It all depends on the spread used (if any) and how the positions play against each other.