The problem I have is that I don't care much for a wheel when it's only attached to my desk as the seating position is all wrong. So until I manage to get enough money to purchase a proper cockpit I'm stuck with a controller.
It's absolutely, positively, definitely worth it if you have the space (ideally a dedicated room), and it can cost a lot less than you think. Trawl eBay for used cockpits because people do buy them with the best of intentions and then lose interest or find they need the space, so sell them on. I bought my own cockpit that way and got a great deal: Forza Motorsport Playseat with seat slider, TV mount, shifter mount, official mat, 32" Sharp HD TV, Logitech G27 wheel, pedals & shifter, Sony powered sub & speakers, and a couple of games... all for £300. Pretty much as per this photo (but the sub and speakers aren't shown)
I wanted to upgrade a lot of the kit so sold the G27 stuff for £140, the TV for £70, the FM seat for £80 (to make way for an RS Turbo Recaro), the games for £30 and the sub/speakers for £40 so actually ended up in profit by £60 with the Playseat frame, mat and TV stand effectively 'free', which gave me a good start for the rest of the upgrades. I've updated the screen twice since then (32" 1080p to 50" 4k) and the wheel/pedals twice (Fanatec GT2 & CSPs to Fanatec CSR Elite with Formula rim) and added a Yamaha 5.1 receiver and a Buttkicker, so the cost can scale with your personal preferences, but as I've shown, there are bargains out there. Even my CSR-E was effectively free because that came with a whole bunch of 'extras' (CSR Elite pedals, Wheel Stand Pro, shifter mounts and a few other bits and bobs) that were sold off individually to cover the initial cost.
All of that was a very long-winded and off-topic (apologies!) way of saying that there are bargains out there if you care to look.
This is the rig in its current state, in case anyone was wondering: