The G29 is worth it. It's amazing with Dirt Rally. Based on your last post, you might enjoy that game. The first one, not Dirt Rally 2 which was a let down. But if that PS2 wheel works, including the force feedback, that's awesome. Nice account name, by the way :)
If you're brave enough to open it, you might be able to fix the overheating issue by getting dust out of the heatsink that hooks up to the GPU. Most laptops have disassembly/assembly instruction videos on YouTube. Another thing you could try without opening it is using MSI Afterburner to underclock and undervolt (a little) the GPU.
RE: A lot of hardware for an old laptop.