Of course you can use it for driving games! The problem is the classic 270° vs 360° steering wheel debate. There are a LOT more games designed for fixed rotation (typically called 270 although the rotation varies from game to game) than there were for 360, but some of the best driving games (and games at all) were 360. Just to name a couple check out the Off Road and the sprint series. You simply can't play a 360 game with a 270 wheel and have it work out right. Now, technically, you can use a 360 wheel for 270 games. However, it doesn't work out that well out of the box. I posted a thread a couple weeks back on how to make it work really nicely, but noone saw it

Anyway, 270 wheels can be used for PC games (non-emulated) as well as console games.
Basically, yes, you can use that wheel and have a good time.