With Forza Motorsport 3 being released in a few days I've been interested in purchasing a good racing wheel for my Xbox 360. Considering I'll need a racing wheel for each individual console, I don't want to spend a small fortune on one that will only work on my 360, but I'm still looking for something that's going to feel good to use.
I wanted to create this topic to get any advice and feedback from the rest of you on the subject, and also highlight the stuff I'm looking to purchase so if anyone else was interested in buying a racing wheel then they also have a source of basic information to help them with in the future.
Does anyone here already have a racing wheel? If so, what's yours like?