Beatiful station simracing 
That profile looks strange to me. The steering wheel looks too low. It’s almost to the bottom of his stomach. It doesn’t even look like there’s room between the bottom of the steering wheel and the driver’s thigh to fit his hand between. Pedals look too close also, with the knees too bent.
Not much talked about, its also important to keep your elbows low and try to relax as much as possible.
Your arms work like a damper.
With the elbows outwards you put extra strain on your chest and wrists.
Something you learn in karting and rally driving.
The lighter you “dance” the wheel the faster you are.
I think it depends on driving style and overall health.
For my road car I totally agree with you 
, but for my sim rig I use a setup that is more like the picture.
If I put the sim steering wheel to high and/or have the wheel on a slight angle I get pain in my wrists and in the end a num feeling towards my thumbs.
Took a while until I figured out a position that worked.
Before the SC2, I used a CSL Elite with Mclaren GT3 rim, after changing to the AMR that Johnny build, I got to the same seating position.
thank you man 
Its cost a fair amout but happy with it overall now
i tried the higher position and still seem to get wrist pain. My old wood rig was more of a feel and position like the picture you posted. I have now taken my current rig to a lower wheel and to see how that reacts. So far I am getting less pain but will have to use it for a few days to tell.
Thanks for you contribution to this topic.