At 240^Drift:
Americans like NASCAR as it is a truely American sport. Just like Baseball and American Football, NASCAR is as American as apple pie and rock and roll.
I have mentioned this many times, but untill you have seen a NASCAR event in person (that includes Saturday Night Specials at the local raceway), you cannot mock the sport, as you have no idea how much fun it is to watch.
Granted, it might not be as "kool" as kids "drifting" in their 240SX's and RX-7s, and it might not be as technologically as advanced as F1, but NASCAR has proven itself to be a compeditive sport year after year, and it not only brings the same fans back every season, but creates millions year after year as well.
I in particular like NASCAR because it is part of my family's history. My Grandfather used to race a '56 Chevrolet Bel Air at the local dirt track back in the late 1950s and early 1960s, and my Dad was a photographer for a Midwest-based NASCAR magazine. My Mother was friends with NEXTEL Cup drivers such as Mark Martin and Rusty Wallace back when they used to race in the Midwest, and I myself have had the pleasure of not only meeting some of the drivers, but visiting their homes as well.
NASCAR is part of America, so if you don't like it, too bad. I think drifting is just about one of the dumbest motorsports ever, but I've seen it in person and I have seen it on television, and because I've had some experience with it I would say that I have a valid opinion against the sport. You however do not in your assumptions against NASCAR...
BTW: It isn't even fair to compare NASCAR to F1 in most circumstances, as they are completely different sports. Yes, they are the biggest forms of motorsport on their respective sides of the atlantic, but just because F1 can turn left and right doesn't automatically make it a better sport because of it.
I watch F1 whenever possible here, and I do quite enjoy it. However, it isn't nearly as exciting as NASCAR to me.
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You also mentioned something about the "strategy" of NASCAR, and for the most part, it is all going to depend on the track, the driver and the team.
Most of what you are going to have to worry about is the tire pressure and the wedge, and depending on the track, the ammount of spring rubber in the suspension as well. In NASCAR you cannot change the fuel mixture, as I belive it is all pre-set in the rules for the 348ci V8. As for the suspension settings, those are usually adjusted throughout the race for most drivers, as it allows them to dial-in the suspension for the given heat, track conditions, and even the ammount of sunlight (yes, sounds funny, doesn't it?) on the car.
If you watch this Sunday's race at Pocono you could probably learn a few things about the suspension setups and tire pressures, as it is one of the few wonky tracks on the NEXTEL Cup circuit, and generally requires a lot of adjusting for most drivers to get just right.