QUOTE (Rubens Hakkamacher @ Jan 4 2011, 17:21)

Car racing is supposed to be loud, powerful, and high performance. That's got nothing to do with "realism" or not - it has to do with Entertainment Value, which is the basis for F1.
With the new rules, what exactly separates F1 from LMS, other than the drivers? Quite frankly, the technical side of LMS is as interesting as F1 these days, and with the new rules performance wise won't be much slower than a 2013 car. Oh yeah, they'll have closed wheel wells and canopies - safer than F1. Why will I be watching F1, again? To see Hamilton and Alonso (quietly) race in sort of mediocre, gimmicked up cars compared to today?
KERS should be wide open, an issue made of how to get the power down. Control top speeds with increasing drag, but don't neuter the performance.
You make good points.

Longish post coming up, which is basically me trying to (further) develop your more theoretical points...
Do cars with electric motors have the performance to put on a viable racing series yet? You mention dragsters, but my experience of watching all-electric racing (TTXGP, TT Zero, whatever it's called), the competitors look like they're travelling in slow-motion. The sound is eerie but I think not unpleasant. The engineering (and driving) demands are alien to internal combustion, and it would be foolish to say that Going Electric would be a natural transition or progression. It will be the biggest change motor racing has ever experienced. So the institutional dislike of electric racing will likely be greater even than that during the front-engine/rear-engine development, which Enzo Ferrari and numerous Indy 500 entrants derided, and which USAC and NASCAR simply refused to acknowledge. So I think 15 or 20 years down the line we'll see an enormous battle, and there'll be plenty of one foot in the past and one foot in the future, as you put it. As NASCAR and, for its last couple of decades, GP500 bike racing has shown, a static and irrelevant technical formula can be attended with popularity and general interest. But they're exceptions to the rule -- NASCAR keeps on top of the competition with protectionist management, strict cost-management and what might be termed genuine cultural insight; Grand Prix bike racing eventually realised it had to adapt to the Japanese manufacturers' demands or face obliteration from four-stroke production-based Superbike racing.
If motor racing is essentially 'entertainment', I think we have to use a more expansive definition of entertainment than many are familiar with. There's a powerful school of thought in F1 that entertainment is in some way directly correlative with the number of overtakes per race, or the number of cars within a second of the fastest laptime, or the number of outrageous slides performed a lap. These are entertaining, but a more fundamental source of entertainment is, I think, the spectacle of the cars themselves, and the spectacle of engineers and designers doing things and building things that us car-owners or engineers can only dream of. Can-Am and Group C weren't some historical anomaly of technical freedom, engineering diversity, close competition and high popularity. They're prime examples of how spread-out, 'dull' races could generate enormous excitement simply from the automotive escapism of an 8-litre Mclaren or a Porsche 962. The competition was fierce and endlessly intriguing, but it was hardly the kind of competition that the current conception of F1 would recognise. The 2010 Le Mans 24h, for example, was the most absorbing car race of the year. But it wasn't exactly Villeneuve vs. Arnoux.
You linked soccer's entertainment to a static and historic set of rules, which is certainly true, and gives real meaning to a team like Barcelona, who only look like losing in one or two of sixty games a year. But their enormous appeal comes from their playing within the same rules as everyone has for decades, but exemplifying tactics and technique of the highest and most cutting-edge level.