Heres my current thoughts. Bit long, so cut to the bottom for my opinion in summary(!)....
Not sure what the 'Analog' option is above - both 360 wheels (they spin forever like a spinner) and 270 wheels/yokes (spin less than 1 revolution) are analog devices....
Either way, I would recommend 2nd hand arcade controls - these things are built to last, and generally go quite cheap on ebay (with the exception of star wars 270 yokes). Shipping can be high-ish as they tend to be heavy, but nothing compared to buying new from Happ.
First off decide what controls you want - a 360 wheel or a 270 wheel/yoke. Or everything:
http://unclet.arcadecontrols.com/MomsArcade/MomsArcadeMain.htmlNote that it does not really work trying to play a game designed for one type of driving control (eg 360 wheel) with another (270 one). So you may want to consider what games used what:
Pole Position = 360 wheel, shifter, 1 or 2 pedals.
Champ, Super or Sprint = 360 wheel, pedal.
Off Road, Indy Heat, Badlands = 360 wheel, button, pedal.
Outrun = 270 wheel, shifter, 2 pedals.
Chase HQ = 270 wheel, shifter w/button, 2 pedals.
Spy Hunter = 270 yoke w/5 (IIRC) buttons, shifter, pedal.
Roadblasters = 270 yoke w/2 buttons, pedal..
There are loads more games but those are some popular ones. Generally a 270 yoke will work fine for 270 wheel games. There are several posts in the past about this.
Once you've decided on 360 or 270 (or both), interfacing:
360 wheel.
This is basically the same as a spinner, except bigger. They come with optic boards that can be interfaced using a mouse hack, or an Opti-pac, or an A-Pac or an Opti-whiz... basically anything that can be used to interface a tackball/spinner/mouse.
270 wheel/yoke. (and also analog arcade pedals)
These tend to be 5k (or 100k) pot based devices (I believe Roadblasters is a notable exception, but it had a unique setup). These can be interfaced directly with a gameport (I think you have to replace any 5k pots with 100k pots - try a search), or and AKI interface (
http://dave.bit2000.com/) or the popular Dual Strike Hack. (info for this on unclet's site linked at the top). This is handy as its cheap (dual strikes a v cheap on ebay) and are already configured for 5K pots so you can plug in a yoke directly. If you don't like hacking and a little soldering, look at the AKI.
Gears/pedals.
As mentioned analog pedals are just single axis pot based devices so you can use the same interfaces as any pot based device. Note that some arcade controls had digital pedals - simply on/off (eg a microswitch under the foot pedal). I would recommend analog pedals as you can play ALL games with these (Mame lets you use analog pedals in digital pedal games perfectly, but you can't go the other way). Several people have just used cheap PC analog pedals. These work absolutely fine, although arcade ones are usually welded metal and will last 50 years.
Gears - bit fiddly here. There are hi/low games, hi/low/turbo, then 3 to 4 to 5 gear games too. Worse, some hi/lo games used 1 microswitch (on high/off low) others used 2 switch (switch a high, switch b low). Even Worse, Mame is not currently consistent - certain games expect inputs that is NOT how the arcade game was setup. The Good News - its all probably quite fixable, and its on the to-do list in PowerMame (both fixing the correct inputs, and also allowing different type of driving games to be played with whatever gears you happen to be using). To cut a lot of waffle short, a 4 gear microswitch gear stick will let you play most driving games (IMHO) - with the possible exception of some ridiculous 6 gear games I've never
played.
Don't forget some games need buttons too - theres a nice thread (with some spreadsheet attachments) here:
http://forum.arcadecontrols.com/index.php?topic=28960.0that has info on all the driving games, what pedals/buttons/wheels they need.
Overall, If I was building a general driving cab, I'd try and support 270 and 360 wheels, I'd have one 4-gear gear stick and 3 analog pedals. There are very very few driving games you can't play with that. (Of course, that assumes you don't want multiplayer 3-wheel games....

)
My favourite cab that does this:
http://arcadegames.home.mindspring.com/driving/index.htmlEDIT: Curses! Minwah beat while I was rambling and summarised it all in few lines....Typical!