I started with a Mad Catz wheel that I used to play the original Forza for Xbox. It cost less than $100. This wheel was OK, at best. A few years ago, I upgraded to the MS Xbox 360 wireless racing wheel, which I used for several years to play Forza 2, Forza 3 and Need for Speed Shift. I bought it for $99.99. Overall, I enjoyed my experience with this wheel and favored using it over my controller for each of these games. This wheel was mid-level at best, however, because the force feedback was relatively tame and I had to sit the wheel on my lap. In November, I purchased a Logitech Driving Force GT wheel, just before GT 5 was released. This wheel cost me $85, after discounts and Best Buy reward zone certificates. I also purchased a wheelstandpro on which to mount the wheel. The wheelstandpro cost almost $200. This wheel and set up was a definite step up for me from the Mad Catz and it was somewhat better than the MS wheel that I used for Forza, etc. The force feedback is relatively strong and the wheel is comfortable.
My main concerns with the MS wheel were that it sat on my lap, the force feedback was tame, it started to perform somewhat erratically and the wheel did not feel like a real leather wheel in a car. It also did not work on my PS3 or PC. My main concerns with the Logitech Driving Force GT wheel were that it did not work on my Xbox 360, the wheel did not feel like a real leather wheel in a car and the pedals felt cheap. Don't get me wrong, these are both "good" wheels, but I wanted more, including stronger force feedback, a more realistic feeling wheel and cross-platform compatibility (360, PS3 and PC).
My search led me to the only wheel that offers everything I want - the Fanatec Porsche 911 GT2 wheel. I ordered the wheel on December 15 and received it last week, fortunately while I was still on vacation. It cost $249.95. Overall, the GT2 has performed well. It works with my wheelstandpro and the pedals for my MS wheel (with an adapter that I ordered from Fanatec). I have ordered the Fanatec clubsport pedals as well, which I expect to receive shortly. The wheel definitely works for 360, PS3 and PC, although it does feel differently depending on the platform and game. For example, the force feedback is less strong in Forza than it is in GT5. Also, in Toca 3 for the PC, I feel more force feedback. The GT2 also is made from alcantra leather and thus it feels like a real leather wheel. I am experiencing some issues with my GT2, including the 888 message on my LCD screen during start up and some force feedback discrepancies in GT5, but I am confident Fanatec will help me resolve those issues. I plan to send them a support request this weekend. I have found them to be responsive to this point, but they are definitely busy and so patience is a virtue.
So, in summary, those are my thoughts about racing wheels out there.
