I preordered the game for my kids for Christmas and already received it. Although the picture of the game that is shown on Amazon doesn't show it my copy says on the front left side that "PS Move functionality requires the PS Move Racing Wheel". So with that being said I have to assume that it is compatible. Obviously we haven't tried it yet but I plan on ordering a couple of the wheels today so that we can have them for this game. Hope that helps!
I just purchased this game and figured you would be able to use the ps3 move control alone. But when the game detects the move controller it tells me to place the racing wheel correctly. I assume you need the racing wheel to play along with the move control. Now I have to figure whether the game is compatible with any ps3 move racing wheel or only its newest addition which is pictured in front of the game box. For now I would need to conform with the ps3 controller.