Seems like a home-based setup would be quite impractical and exprensive...but whatever floats your boat. I work at a Dave&Busters arcade as a game tech and we have a Carismo machine like the one pictured below...It has force feedback and is very realistic...It also costs about 5 bucks a play
In fact, the force-feedback is so realistic that the machine will shake so violently when you crash that it will sometimes reboot. Also it is PC based.
Need for Speed Underground, Ferrari F355, and the original Daytona are in our arcade as well and I prefer to play those because the linked play is so much more fun. We've actually gotten rid of many of the good racing games we've had because redemption games seem to be where the industry is headed according to my manager...That and that overrated Derby Owners Club.