My friends' got a madcatz 2 and the steering on it is really unresponsive. You should definately get a better sterring wheel if you want GT3 to work well.
I got a Madcatz 2 for ps1, 2 and N64... very unresponsive and i cant get the gears to shift. And you have to hit the brake before you start each race or it will barely hit 5 mph...