I decided not to use my wheel because I've already put 70 hours into this game with the PS3 controller, and I've gotten a lot more consistent and much better with it. That, and my wheel is a shit Mad Catz one. I think I'll wait to get a PC specific wheel before I try a wheel again.
Anyways, I did a race and was putting around 1:16 per lap, so I'm feeling really good about it. I got 1:15 in Time Trial, so I'm definitely learning this track real well.
Okay, I'm up to 1:15 in race settings, although I'm not very consistent with that time. I have no idea what a competitive time is at this track, but I'm 400th or so on the leaderboards with my 1:15:299 time in time trial, so I'm guessing that those times are really good considering I'm doing those same times in race settings.