I bought my son a Fanatec Porsche Turbo S wheel for Christmas. Seems to work pretty well and is a nice wheel. Should be....pretty pricey piece. It comes with both a six speed shifter, sequential shifter, and paddle shifters. The standard pedals work well and it has all three pedals. They make a fancier set but they are expensive.
http://www.fanatec.com/iRacing is really cool and the tracks are very detailed and very close to the real thing. If you use the grand am promo you get three months for the price of one.