I recently got a new computer, and then I got a Logitech G27 wheel, shifter, and pedals. I'm getting hopelessly addicted to iRacing now, but I'm still a rookie and still learning. I like the way iRacing focuses on a safety rating so that one must learn to drive safely as well as fast in order to move up to better races. I've only been playing for two months now. I started with a game controller, but it's much more fun with the steering wheel. Having a clutch and an H-pattern shifter or paddle shifters is just fun! I'm running both oval and road races and trying to work my way up. I'm gradually getting better.
Here's a low-fi picture of my set-up. Yes, I know the cable management is lacking in this photo!
Nice! I haven't played iRacing in a long, long time. I feel like it's just too much of a time sink. G27 is a solid wheel but the shifter and pedals leave a bit to be desired unfortunately.