DougOtt,
I just recently went through the same "research" regarding iracing and the SLI/Crossfire situation. The guys on the iracing site pretty much indicate that Crossfire/SLI needs to be disabled when running the sim.
I ended up going with a single 7970 for the time being since iracing is my main concern. It's paired up to an I7 2700K and 8GB RAM.
I can run triple monitor Eyefiinty at 5760x1200 with every single graphic option maxed in iracing, 4x AA, 16X AF, and easily maintain over 90+fps. I can maintain over 160+fps if I disable the high detail cockpit mirrors. In other words, one 7970 is more than enough.
If I were you, I'd go ahead and do the 7970 Crossfire though and just setup a custom app profile in the Catalyst Control Center that disables one card for iracing, and the one remaining card wont even break a sweat.
This way you can use Crossfire in the games that can take advantage of it, and still play iracing trouble free.
I can also tell you this. iRacing is addicitive