Don't get too much hype, I found it very disappointing. I only tried it with Daytona and Sega Rally, but I found it very unreliable, I couldn't control the car as precisely as with a standard controller. It's back in its box now. Maybe it just needed some getting used to? But I didn't have the patience, plus the thing is huge on my desk.
I've been trying the wheel with 3 racers, Shoutoku Battle 97, Nissan Over Driving GT-R which is basically the Need for Speed game with Nissan licensed cars. The response time feels decent and the driving sensation is pretty relaxing and I'm somewhat enjoying these with the wheel.
However my main reason for the wheel was for the Initial D which is just so uncompromising in it's gameplay, steering is overly sensitive not to mention the driving at night with no lighting doesn't help especially with sharp zig zag turnings. Definitely not a relaxing game, not even for a quick arcade thrill. I do think it controls better with a wheel but dayum the game puts you on edge as it's one on one driving. Not one for when you rage easily! Also need to add the default driving view feels very claustrophobic. But having said this I really do like the characters, settings and music but the gameplay just takes away any charm points.
EDIT
I like the arcade racer, yes it does take getting use to. Can't escape the plastic feel of the thing. Also depending on previous owners and how the wheel has been treated they all may operate differently. Mine seems alright. My main gripe is the angle adjustment, there is a lock at the back of the unit that fixes the wheel into place that seems like it can break at any moment.
These are exactly the kind of fairs they hold here in the Netherlands btw, just rows and rows of retro stuff (though recently they're becoming more and more modern), you can get some decent deals sometimes; the sellers are there to sell, so more often than not they'll knock something off the price. I've spent lots of cash there, but I've also saved a whole bunch just by asking for a few euro's off here and there, it really adds up over time.
maybe I should start making trips there ...