A quick update on this following a recent acquisition of a Thrustmaster T300 GT RS racing wheel.
It does work in I76 - with some caveats.
The first is that I76 doesn't offer "environmental" force-feedback (where going off-road or crashing results in an effect) - it didn't with a joystick and it won't with a FFB wheel. What you will get is weapons-fire and engine feedback (and the engine feedback tends to cut out after using weapons).
Secondly, you need to configure the T300 to combine the accelerator and brake pedals into a single axis, to allow you to accelerate and brake properly.
Thirdly, while I76's controller configuration is surprisingly flexibile for its age (supporting up to 10 buttons and multiple joysticks - when most sticks were 2-button and USB had just been introduced, so joysticks had to use a single gameport connection) it clearly wasn't tested with a multiple joystick setup. Trying to set up buttons or axes from Joystick 2 results in them being appended onto previous settings rather than replacing them, and those settings would not save on exit.
To work around this, I found the best option was to edit the settings file input.map directly with a text editor (making a backup of the orginal first) - the syntax is pretty straightforward.