IMO the best budget wheel (and you really shouldn't go for anything cheaper) is the Logitech Wingman Formula Force GP. It's virtually impossible to brake it by normal every day use. I used mine for more than two years (almost every day use, for at least an hour, often much more). The only thing about this hweel is that the wheel shaft can become a little "lose". No worries though, cause it's very easy to fix.
For a little more money, you will get the Logitech MOMO. Basically, this is the Wingmans big brother. You do get a couple of extra buttons and a shifter (sequential that you can put on either side of the wheel) and a wheel witch feels much better to hold on to. IMO, well spent money if you'd like to pay for more than the Wingman.
The MOMO suffers from the same problem that the wheel might become a little lose, but it's not much harder than on the wingman to fix that.
Pedals on the MOMO is the real weak spot, but there are plenty of guides how to fix this.
You could also try the Logiteck Driving Force Pro, since the price differes very little between the MOMO and the DFP. But I can't imagine how 900 degree of turning would ever come to use on a race track...
Now... The big spender would go for the ECCI wheel and pedals (well, I would at least). Don't own such a wheel or pedals, but one day I will
http://ecci6000.com/6000_wheel_01.htm