Wow, A1 rocked. That guy from Brazil is obviously very good but I think we'll see other countries catch up pretty quick. I'm predicting the top 5 at the end of the season will be Brazil, New Zealand, Australia, Great Britain and France (in no particular order). I'm expecting we'll see big things from Mexico, South Africa, Pakistan and maybe the Netherlands as the season goes on.
I think it's great to see countries represented in motorsport and on a completely equal level car wise. I don't think the cars are underpowered at all, sure it's not Formula 1 but look how long those F1 engines are replaced. Also, with F1 going to V8's you'll see their performance come down too. A1 definately has a few bugs to be fixed, especially with pitstops and TV coverage but I think this can be excused as it was the first race.
Brands Hatch is a cool track, I'm glad that A1 started out there.
As for competing with F1, obviously the cars aren't as fast as F1 cars but it's all relative as the cars are all even. I also think the cars look extremely cool. I think eventually A1 will dethrone F1 because it's more accessable, you can't buy up drivers from other teams, it doesn't cost as much, there's more teams and the racing is more exciting - more overtaking. Also, with more teams pulling out of F1 and continual downgrades of the cars engines/aerodynamics I believe the gap will close.
I hope in the future teams are allowed to run more than one car like in other motorsports, I guess they didn't do that this season due to car supply and cost more than anything.