I've been doing a bit of my own research and these items looked the most appealing to me.
For cockpits, I'd go with either the
GT Omega Evo Racing Simulator Cockpit or
RS Evo 3
As for wheel and pedal set, if you plan to play on just your PS3/PC than go with the
T500 RS. It is slightly above your budget.
The only other option is Fanatec, which is the superior option IMO. If you want a multiplatform wheel that plays on the PC/PS3/XBOX, you can purchase the
CSR Value Pack wheel and pedal set. This stays within your budget. If you are willing to spend more there is the
CSR Elite wheel. This is also multi platform, but you must buy the
pedals separately.
Just so you are aware, Fanatec recently released their premiere product
Clubsport wheel. This is PC/PS3 only, and the
rim and
pedals are also sold separately, which would easily run you over $1000.