The trick to catching oversteer with a wheel is to let the wheel correct for you. Basically, when it steps out, let go of the wheel for just a sec and it will move toward the direction of travel on it's own. Then, you grab it again and make small adjustments of steering and throttle.
This works on simulation games becasue suspension caster is simulated correctly. This is the same as real life. It's just like how a shopping cart's front wheels correct themselves.
But, to the OP ... it does take some time to get used to, and it is a better method of control. But, when you get a wheel it becomes more of a driving simulator and less of a "game." "Game" theories and practices begin to apply less, so "gamers" can have trouble adjusting. It took me several months to really get used to my first wheel, and I'm still not "good" after nearly 2 years. The experience is WAY more exciting though, and completely worth it.