A steering wheel is great for immersion. It makes the whole thing look almost real. I've played racing games using a gaming steering wheel and I must confess that the experience was far more enjoyable than when one uses a controller. That said, right I don't use a gaming steering wheel any more. There was a time I lost interest in gaming, sold all my gaming stuff and these days though I play racing games on PC mostly I have to make-do with my keyboard.
I have Logitech G25, though it's out of market now. It's a great wheel, it got haptic feedback and all. It also has gear stick, so games like Euro Truck Simulator are fun to play.
I loved them when I was a kid, because video games at home had not come that far. Steering wheels for video games were only in arcades. We have one for the Wii, but seldom use it because it really does not add to the gaming experience. Personally I think it is because it hangs in the air, opposed to some of the gamer wheels that have a base (like shown in your picture).
I used to have a steering wheel for my PC, but then it broke down. The pedals stopped working, but the wheel worked fine. But, I didn't want to play with no pedals, so I threw it away. It was some cheap kind of a wheel, tho. I think the brand was Silver Steel or Silver Wheel or something like that. I currently don't have or play with a steering wheel, but I would LOVE to own one of the Logitech G series wheels. I want a wheel with a clutch pedal and a proper gearbox, and they are just too expensive, sadly.
I used to do it, but nowadays, I see them less often. The only places I've seen a gaming steering wheel are arcades, and an old one I have, hidden deep in my attic. I kinda miss them, but I enjoy a good racing game because of that feel you get when you win; in my opinion, being realistic doesn't make a good game, so a good controller is more than enough to keep me happy while I play Forza or Gran Turismo.
I have never used steering wheel but I played it in the arcade. It's a fun experience though, but I will choose a controller when I'm playing a racing game.
I don't think its necessary to have a wheel while play a racing game. Although it sounds cool. I have yet to see how it effects the game play. Motion sensor is good enough for me.
I recall using a wheel on the PS2. We got it for Smuggler's Run, since it was a "Cops and Robbers" game. Only used that thing once or twice. It was annoying to try to find something around your level to place the steering wheel. Especially, if you're a kid trying to enjoy the game.
I've played Mario Kart Wii with the wheel for a long time, untill I once played with a Nunchuck. Since then, I've never used a steering wheel for any racing games at all, because I'm really used to controllers now.
I don't use a gaming steering wheel no, I'd like to have one but I don't think they are worth the investment. I need to play with a controller though, I can't stand driving with my keyboard, it's just not accurate enough.