Take some time to go over to the far side of the track (speed valley I think its called) & see them all flat out & V low.
Valley of Speed... Its off of Red Rock Canyon Road, which is at least one maybe two exits north past Stead Bvd. Drive a few miles (2-3) east and then look for lots of campers and folks on the right off in the dirt. Its an unofficial viewing area and I'd never recommend it over going onto the field, but for some variation on going inside for several days its well worth it. Only thing is, the racers use three circuits and only the Unlimited and Sport category races really work at VOS - the others are too close in to make the viewing there worthwhile.
The hotel buses do the media photographer shuttles around the race course during the day, so they arrive before the first race and leave after the last race. If you need any more flexibility than that, rent a car - the recommendation on renting in SFO and driving is a good one IMHO. Most well known hotel brands are booked for the races, so book early and don't leave it to chance of just showing up if you want a choice of establishments in which to stay.
Pictures can never convey the excitement and the noise, but if you're curious some of my pics from last year's races (the best are not necessarily on the first page) are at:
http://www.airteamimages.com/search....d=37&t2_id=338
I'm going back again in 2008 - see you there!!!
Andy