I tryed for ages to do the same, as it seems year ago there were plenty sub £50 wheels that were good but now ? no way i say.
Below £50 i say 2nd hand driving force EX is your best bet. I gave it and got the rather solid Driving force GT and I'm not a racing game type of guy normally, only got it fro F12010 and GT5 (when i get round to getting it.
It seems to me for a brand new PC/PS3 wheel there very little choice, the Driving force GT for £80 or the G25/27 for £200+ and not a lot else, as the official MS wheel I didn't like at all and the sub £50 wheels that are out these days and relay horrid.
In short if can push out to £80 then get the Driving Force GT take it from a guy that was in the same boat as you a few months ago.