Yeah they suck, I recently upgraded my receiver to a DVR just so I could watch F1... and CBS starts to cover it!
I'm pretty pissed about the WRC being dropped also. Speed comes as part of the service I have so I won't drop it, I have been recording the GT racing (Grand-am?), euro-coupe (or something like that), and the motorcycle GP.
But yes, most evenings there is nothing but dumba$$ "reality" shows or ricer programing on speed, without the DVR it is useless.