Ball and socket joints (like in your shoulder and hip) can rotate 360 degrees if your tendons and muscles are in good shape and you're not terribly overweight. The bony parts & the cartilaginous rotator cuff are fully capable of it, the restrictions on angle etc. are due to the surrounding structures. I can't think of anything closer to a wheel than that, at least not off the top of my head.
You can find all kinds of interesting structures in the arthropoda, though. For example spiders are somewhat hydraulic - they have rigid exoskeletons that are fluid-tight, and their guts are suspended in a bath of cuprous haemolymph. They haven't any veins distributing fuel to muscles, instead most of their limb movement is generated by pressure differentials, a lot like industrial hydraulic actuators. In cross section an spider leg is pretty similar to an incredibly finely machined set of nesting tubes.