There are several positives and negatives to consider when deciding whether to buy a steering wheel for racing videogames. That being said damn they look good on a desk or in front of a tv.
One of the main positives of a steering wheel is the increased level of immersion and realism it provides. A steering wheel allows players to control their in-game vehicles more realistically, with the ability to make turns and perform other driving maneuvers just as they would in a real car. This can make the gameplay more engaging and enjoyable, and can also improve players' driving skills in the game. Another positive of a steering wheel is the increased level of precision and control it offers. A steering wheel allows players to make fine adjustments to their driving, which can be particularly useful in high-stakes races where every split-second counts. This can give players an edge over those using a controller or keyboard and mouse, and can make the gameplay more challenging and rewarding.
On the other hand, one of the main negatives of a steering wheel is the cost. Steering wheels can be expensive, particularly if they are high-quality and feature-rich. This can be a barrier to entry for some players, who may not want to spend a significant amount of money on a peripheral for their racing games.
Costs for midline steering wheels run as high as 159.99 with a basic set of pedals.
Another negative of a steering wheel is the space it requires. Steering wheels are large and can take up a significant amount of space in a gaming setup. This can be an issue for players with limited space, or those who prefer a more compact setup and don't have a place for storage.
Lastly, many racing games don't accurately support steering wheels or their racing is closer to old style arcade games where racing wheels levels of fidelity aren't reflected when playing.
Nevertheless, steering wheels are a major improvement to immersion. I have a number of them for the console and PC and not only does your racing improve but the feeling of being in a cockpit is second to none.