I was very heavily into online racing sims for 8 years starting in the mid 90's. Raced in weekly leagues for small purses and prizes, but mostly bragging rights. Dale Earnhardt Jr and Donny Lia (Craftsman Truck driver) we among my competitors.
I never owned a racing pod, but many did. I guess just like real racing, the best equipment can get you an edge. Here is the latest greatest simulated. It's not cheap! Too bad he's racing an oval. He could get motion sick on a road course.
http://simcraft.com/apex-sc830.aspx