I had the Logitech G27 for a while. Way better than any gamepad obviously. It was just a pain to have in the way so I sold it. If I had a huge mansion and a dedicated game room I would build something cool like Blinky McSquints posted.
There is always a solution to be found. When I was building my rig, I "discovered" that a racing rig is two distinct elements, the seat, and the footwell that mounts the pedals and wheel. The good part is the the seat does not require any connections, while the footwell contains all the components that have to be wired together. For me, I built my rig in two parts, and connect them together with simple latches.
When I want to race, I pull out my rig, and within 60 seconds (actually timed it) have everything up and running. When I'm done dissasembly is simple, and it can be stored on a footprint of three feet by three feet. They can stack on top of each other, and they take up very little room.
It ain't pretty, but works incredibly well, is portable and takes up very little storage room. I even put little castors under the seat to make moving it around a lot easier.
Until we win the lottery we have to make do with what we have.