I think this would be a comfortable set up, but I don't think I could get enough leverage, like you can with a traditional steering wheel. In a case where "rubbin' is racin'", would the better aerodynamic and more comfortable steering position be better or a wheel where I would get a lot more leverage?
One other oddity... I guess most go carts do not have suspensions, as none of the steering assemblies I've seen take into account the up and down motion of the suspension. This causes the front wheels to toe in or toe out depending on how compressed the suspension is at any given time. Depending on the speed thiscan be a dangerous thing.