Gonna trade in some games on this one. Any advice on it. I've heard it's relatively realistic. Can it be driven with the controller or is a wheel really necessary?

It can be driven with either the wheel or controller. Both are equally competitive. The controller gives you faster response times while the wheel gives you more precision steering. They both average out.

The gamepad controls are really good. I recommend making the deadzones smaller on the triggers for a bit more throw.