Does anyone have any experiences (good, bad or indifferent) with iRacing.com?

Anders posted a video on facebook of him using a PS3 racing program, NFS, which got me on this topic. I don't have Xbox or PS3, just Wii. There are no good Wii racing programs, as far I can tell, for Wii.

Anders is using the Logitech G25 wheel, pedals, and six speed shifter. This sounds really neat, and I am now looking into getting this setup.

In lieu of buying the PS3, I found iRacing.com. Is this a good PC based program? Sounds like a great way to practice Summit Pt and VIR, as well as Laguna Seca, and some other tracks I've only heard about!

Any thoughts and suggestions are, as always, very much appreciated (both as to games/programs/hardware). Thanks!