Does anyone else remember the times when racing wheels were around $50 tops? Unfortunately, as the games became more advance and cost more, the racing wheel peripheral has followed along suit. Now if you want a top of the line quality wheel, you're paying $150 at least. And that may not even be top of the line. I'm not even sure how much I'm planning to put on the next wheel I get once the one I have now breaks down.
I'd probably look for a refurbished one below the cost of 100 dollars. In my opinion there isn't all that much difference between a standard, average priced steering wheel and a high-end variant.
I'd expect i'd have to pay at least $100-- they only seem to make'em good at those prices. I want pedals and a stick with mine too... so that's probably going to cost me more, lol.
I'm right there with you on how crazy the prices are these days- and it's for that very reason that I actually do not plan to pay ANYTHING for another racing wheel because I don't expect I'll be getting another one. I just don't have the money to be spending that much on accessories that I feel are nice but ultimately unnecessary.
I think if there is a really good one that comes out then I would spend maybe $100 tops to get it because I really think that they are worth it when it comes down to it.