I have an XBOX 360 with a Fanatec Porsche 911 GT2 Racing Wheel and the ClubSport V2 pedals. It's in a custom (ugly) wood frame I built with a racing seat and a 50" screen and surround sound. I play Forza 3 (which has a 2003 Boxster S), Forza 4 (there's a huge Porsche Add-on set) and Horizon, as well as F1 2012. While it's not the most realistic sim, it's pretty damn good and FUN to drive.
The wheel also works with PC, but I haven't had the time to build a system yet. My goal is to get R Factor up and running in a three screen setup, and ultimately run the Targa Florio in a Porsche (yes, some nut re-created the 72 kilometer course)
https://youtu.be/yMKffOQGtCA?t=666
Unfortunately my wheel does not (and will never be upgraded to) work with my XBOX One, so for now I cannot play Forza 5 or Horizon 2, which are awesome. (there are some other XB-ONE wheels but reviews are not that great). I am waiting on the new Fanatec wheel, which will hopefully be released sometime in late fall. (the $1000 wheelbase setup should be available in May, but that's a bit too much for me at this point)
Vesaro has the ultimate three-screen setup....but I think I'd buy a 911 before I spent that much on a sim....
https://www.youtube.com/watch?v=7OvTHfDyt6c