Richard I am running a Obutto Revolution cockpit with Fanatec Clubsport v2 wheel, pedal set and shifter. Running PC and some ps3. Triple 27" monitors with a fourth monitor above that for telemetry laps times tyre pressures.
Also I have a buttkicker under the seat for vibration and its a great addition.
It depends on how serious you want to get but if you want a crystal clear image 144hz monitors are best.
I frequently visit http://www.isrtv.com a great website with Darrin and John both great guys.
Graeme.