Newegg has the refurbished Logitech Driving Force GT Wheel with Force Feedback for PlayStation 2 or PlayStation 3 (941-000020X) for $70 - $15 off with coupon code EMCJHNC56 [Exp 12/13] = $55 with free shipping. 900-degree wheel rotation: go 2.5 times around lock to lock, just as you would behind the wheel of many real cars.
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i wonder if this would work on a Playseats racing chair?
i have the Xbox Wireless Steering Wheel (not produced anymore) hooked up to Playseats racing chair and Forza 4 and GRID are jaw dropping fun!
It just clamps on so I'm sure you could make it work.
I have mine clamped to a Wheel Stand Pro.
Get the G27 and build a steel frame frame and go to a junkyard and get a real seat. I found a BMW 740i leather seat in new condition for $45. Hooked up the power seat controls and all - even the seat heater works
. Total cost without the G27 about $175. As close to the arcade as I can get 
You da' man, #4...