Heat up a pan large enough to fit all of the legs in with high sides.
Season the pheasant legs with salt and pepper, then coat lightly with flour. Gently brown the pheasant legs, in oil in a pan, when they are nice and brown, add the wine, broth or water, morels, and cover the pot. Cook until the legs can be easily pierced in the middle of the knee joint. When the meat is nice and loose, but not falling apart, (about 1.5-2 hours), remove the legs from the pan and cool until you can handle them.
Remove all of the little pin bones, they should slide out easily by now. See a picture example HERE.
You should have about 5 cups of braising liquid left over, strain the liquid, season it to taste with salt and pepper and reserve.
Add the pheasant legs back to the pan with the morel sauce and cover, keeping warm until it's time to serve.
Soft Polenta
Heat the water with a teaspoon of salt until simmering. Slowly whisk in the polenta, when it begins to thicken, turn down the heat and whisk constantly.
When you cannot whisk anymore, and the mixture is thickened, stir the polenta with a wooden spoon. From here you can just turn off the pan and let it cool while you prepare something else. The residual heat will be enough to cook the polenta through.
Plating
Trim the woody ends from your asparagus and add to a pot of boiling salted water. If your asparagus are very large you may want to peel the ends of the stalks. Cook for about 30 seconds depending on size. Wild asparagus will take much longer if they are very large. Place a cup or so of polenta on each plate, top with a few spears of asparagus, then the braised pheasant legs and morel sauce, serve immediately.