[Loser]

Y'all are correct. I have no idea what I was thinking, it's been a while since college and I'm afraid I haven't used physics much since then.

I still think there would be problems with orientation, which would not be corrected by placing the station in a Trojan orbit, but these would be more easily corrected. They could, in fact, be corrected without the expenditure of thruster fuel, but rather through the use of a powered gyroscope driven by whatever power source the rest of the station uses.

One more thing about the spinning wheel. Small changes in the distribution of mass around the wheel will change the point around which the wheel spins. This will change the strength of the illusionary 'gravity' throughout the wheel and could cause problems for any machinery sensitive to changes in it own 'weight'. Amusingly, the more mass you put on one side of the wheel the less 'weighty' things on that side will become.