Is it really worth the money to invest in a racing wheel?

I've played many racing games before, but I've always been content with a controller. I recently downloaded the Gran Turismo demo and playing with a controller is quite difficult. The demo is a time trial of an Indy road course using a Nissan 370Z, and in the online rankings, I was ranked 1,008th last I checked. This is a combination of a vanilla 370Z, and a tuned 370Z. Your best time in each category is used, and then combined with the other to get a total time.

I'm 10 seconds behind the top guy. All of the top guys use wheels, however a few on the top of the leader board use a controller. I've never used a wheel before for racing games, but I can imagine it being 10x better than a controller. The drawback is how much the wheels cost. I looked on Best Buy's website, and the top flight Logitech wheel is almost as expensive as the PS3 itself. IDK about spending that kind of money....
PSN: wisgator
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