Sadly GT4P alone isn't really worth.. GT4 will be out in Nov-Dec in the US.. probably the same in Europe, but could be 2005...
GT is better than Gotham IMO and by far! Even GT3 is better. Of course you could keep the boy happy untill GT4 with this combo:
PS2 + GT3 + GT3 Concept + GT4 Prologue
BTW, off topic, but I'm paying Riding Spirits II and it's by far the best motorbikes game on console
BTW, the console + joypad (included) is ok, maybe a second joypad if he wants to play with friends... don't forget one or even 2 mem cards
As for a steering wheel.. could be nice, but first let's see if he will like the game
(no idea how he could not
)