Does anyone else here use Live For Speed? I stumbled upon it a few months ago while researching GT5 (for the PS3), never thought of 'games' providing thrills similar to real life, but LFS was pretty impressive even if it doesnt use real cars or tracks, the physics and sense of realism is amazing. You have to do all the driving, no traction control, no abs and certainly not arcade crap (brake help, steer help etc).
I've also got myself a Logitech G25 and have put the whole set-up in my small dark (music) studio, the sense of immersion there is amazing, will be upgrade my setup to double 19" HD monitors and suitable graphics card (9800GT maybe), I would get the proper racing seat, but dont the have the space. This is a lot cheaper then getting an Pulsar and the insurance, fuel, repairs, mods, storage etc.
Other sims i've looked into
rFactor/GTR/M3 challenge (ISI engine), excellent that you can add real tracks/cars (including the offical Is-F addon by Lexus), but the physics seem to be lacking a bit, will probably buy it just for the IS-F, its only £20.
netKar, specs look/sound good (serious no nonsense racer), but its only open wheelers.
Will be interesting to see how Sim racing develops over the next few years, with rising fuel costs, technology advances etc.
PS just i've got all the kit doesnt mean i'm any good. I'm currently running 15% slower than world record times in the small FWD class (think Swift GTI).