As far as racing games go I can't drive with a keyboard I have to use My Logitech MoMo Racing wheel with force feedback it is very realistic. If you get a flat tire the wheel pulls to on side just like the real thing. If someone hits your car you can feel the jolt or if you abuse the car it will reflect it.
But when it comes to anything else Crysis, halo or whatever a good gaming KB and mouse is hard to beat.
Juat my 2 cents