Also, does a spinner require anything special to do in MAME to get it to work in games like Outrun?
No, but the fact that it can spin endlessly might cause issues.
See the stickied driving cab info thread (a spinner would fall under 360 degree wheel). There are solutions to make the experience better, but they aren't simple.
What about PC racing games..will it work like a standard USB Wheel?
As PL1 stated, the spinner will show up as a mouse axis.
Most PC games don't support mouse input.
You can use a program like glovepie to translate the mouse input to a virtual joystick, but again, that isn't going to be plug and play.
EDIT: Oh, and don't expect it to be like the joystick games where you just install it and can play 2000 games.
Every single game will need the sensitivity to be set individually and if you are using buttons for the gas an brake you'll also have to tweak the digital speed and digital centering settings in MAME. There are no universal settings. Every game in MAME is different and most input devices are different.
Once it's set up it's well worth it, but you'll be taking things one single game at a time.