[5String43]

Yep, I've covered it a few times. I seem to recall that the cars come by every minute or so. If I may suggest a vantage point for viewing, it would be this - a section of corners called "the Ws," about 3/4 of the way up the mountain. It's way above the treeline, the corners are tight and in quick succession, so you get a good chance to see what the cars are doing - and you can also see the long approach to these curves. Good stuff. If you go all the way to the top of the hill, you can see the cars cross the finish line. Not near as exciting, but at least there's a hospital hut that offers food, restrooms, etc.

Oh, and never mind that the race runs on July 4. It can get really cold up there on Pikes Peak, so take warmies, if you go.