I did some looking into this awhile back, as I have a perfectly fine Gameport MS Sidewinder force feedback wheel that was a great driving wheel.
Long story short, Game ports and any OS beyond and including XP just don't mix well together. Spend the money and buy usb stuff to replace it.
You'll get OK results if you have a NON-forcefeedback device, and use a gameport to USB adapter (I used one for a while with a logitec flightstick), but as I understand it, the drivers just aren't there for gameports under xp and beyond. USB pretty much supplanted them.
And as far as ANYTHING forcefeedback, that requires 2 way communication through the gameport, which apparently just isn't possible under the new OS's, and definitely does not work under any USB to gameport adapter that I could ever find.
But I'll watch this thread. It's entirely possible I've missed something. I've got a MS Wheel that would love to have a second life!