Matter of tastes, I suppose, personally I NEED a wheel for racing sims, I can instead be fine with a joystick in arcade racers, but I totally suck at both using a controller with thumbsticks, my thumb movements aren't fine enough, maybe also because I tend to clench, that really sucks, as it also often gives me writer's cramp when I have to write for a long time.
Being a PC gamer has its advantages, I paid my PC-only wheel with force feedback, a Trust GM-3500R, 79€ VAT included, now it's even cheaper, 49€. It's cheap but decent, although it has just two control axes, one for steering and one shared for accelerating and braking, meaning that some old style driving techniques aren't possible, but for that price it's fine, and the wheel has a good feeling, good force feedback and a good grip too.
Last time I checked, unlike two years ago, all the high end wheels I saw at stores offered PC, PS3 and XB360 compatibility, but I noticed recently a lack of offers in the mid range, maybe it's due to the Xmas season not really fully started, so maybe retailers wait for the last Xmas novelties to restock.
One last advice I always give in wheel threads: avoid like the plague the entry level, vibration feedback, Thrustmaster wheel, it's made of shit, a suckling could break its gear paddles.
