Was thinking about trying this game out but not sure it's worth it with just an Xbox controller and getting a good simulation controller isn't really in the budget right now. Thought?
you will not get the most out of it. But if you want to do it then sure.
I started with a Driving Force GT steering wheel, one of the best cheap options to get. They as cheap as second hand.
iRacing is not a cheap hobby, you need to buy more tracks and cars to progress. You pay for what you get
I highly recommend a wheel, whatever the racing game. Once you have played with a wheel, you realize that driving with a pad is not driving. Also, iRacing is more a sim than a game, the physics is very realistic and accurate. Therefore you need to feel the car and be precise with your inputs, which is easier and more intuitive with a wheel.
Of course not everyone can afford a wheel, but if you're on a budget you can try the DFGT as @velly said, it's a good wheel for a "cheap" price.
I wouldn't bother. I used an old X360 controller for a couple days when my wheel broke and it was horrible. I was slow and crashy and hated every second of it. It's just not even close to the same experience without a wheel and pedals. And i've played console racers since the Super Mario Kart days so i know my way around a joypad/controller.
Thanks for the input guys, guess I'll just have to wait till I can afford a gaming wheel. Seems the DFGT is pretty popular here in Canada, all the stores online are sold out or out of stock.