If I understand correctly the high the rate is the most CPU it will demand right? Does the rate also affect something with physics too? Like will a high rate make the driving more accurate or something?
I've seen some peoples abuse that wheel quite badly without breaking. Maybe you just drive like a dick? It's virtually impossible to break a wheel in this amount of time!
Out of interest, why do you want the monitor to be half hiden by the steering wheel? On my older desktop computer I had lifted the wheel 6 inches just so it doesnt get in the way of the wheel.
Now with my laptop, I made a little box that's 9 inches high to clear the wheel again. I clamp the wheel inside that little wood box so it does move with the laptop on it. It's pretty solid and does the job.
Though I doubt it would be solid enough for a 24 inches monitor.
I think the most important is that your face is around the middle of the monitor. If it's too high or too low you will hurt your neck from being in a akward position for too long.
How many FPS do you think I'm good to get with a C2D P8400 @ 2.26Ghz, 4Gb of 800Mhz RAM (DDR2) and a 9600M GS? At 1280x800. Hopefully it will be over 100FPS will all the goodies to the max and a shitload of textures!