Mate, if you have the money, get a couple of those PS3's. Amazon currently retail the 80GB for $399.99. There's profit to be had. Also, wouldn't hurt to have a reserve should the worst happen to yours. The 80GB is a rock solid model.
As for the wheel, does it look like this:
If it is that one, then it's specifically designed for the PS3. No PC compatibility can be assumed as all the inputs are for the PS3, i.e the Home, X, O, Square & Triangle. That said, it is still just a USB wheel, so the mechanics should work for a PC. This used to retail $99 but has recently been reduced to $49.99. Wonder why? Perhaps it's to do with the lac luster 270 deg rotation, although gas resistance pedals should make it quite responsive.
Answering your PM now.