my brother has a steering wheel for the pc (one of those lovely sidewinder jobbies), but all i use it for is leaning on.
I use a Logitech Wingman Formula Force Feedback steering wheel and pedals.
The effects from this wheel feels the most realistic to me. For instance, when you get a solid run up off the corner the wheel gets a little bit heavier under the weight of the car.
I've never smashed into something at over 150 mph but I think this wheel gives me the impression of how that would feel.