Another way to put it:
F1 (Formula 1 or Grand Prix racing)
- Teams must build their own cars (outstandingly expensive)
- Must make their own engine (Ferrari or Toyota) or have an outside supplier provide thier engine). Nowadays, in order to make the engine/chassis combination as competitive as possible, this virtually means you need to have an exclusive engine deal.
- Driver aids (traction control) permitted again (banned in 1994, retained in 2001)
- Must compete in every race to avoid stiff penalties
- Always has been a globe-trotting circus (races all over the world)
- Sanctioned/governed by FIA (Federation International Automotive...sorry, my French is terrible...think of it as something similar to the AAA Road Club in America, only a lot more influential!)
- FIA has a single nut-job in the name of Max Mosley who makes the rules up while drunk.
- The campaining of the cars to various circuits is organized by Bernie Ecclestone, who has almost as much money as Bill Gates.
- As a whole, a crazy, fascinating, amzing history of motorsport like no other. But it can be as excitingas watching paint dry at times.
- some drivers get paid $10-$30 million a year to drive F1 cars. And there are actually those who pay $10 million a year to drive at the other end of the field.
- Politics drives the whole show (and eventually, you) mad.
CART (Champ Car, formerly USAC, before that AAA)
- Teams can (should?) buy a customer car (built for various teams) and modify it slightly.
- Engines are built on a customer basis as well, if you have the money, buy it.
- Driver aids not permitted (not ever)
- Racing used to be primarily a US/Canadian affair; in 1991 the CART series went to Australia, then eventually Mexico, Germany, and Great Britian (with more to come, I'm sure!)
- Once raced at Indiananpolis Motor Speedway (until 1996); split between Tony George (owner of Indy) and CART caused the IRL (indy Racing League) to be born. Against all odds, the IRL is looking to win the battle.
- Governng body is in complete chaos as of late.
- Has all the right pieces to make for a great racing, but more and more teams are jumping ship to the IRL (Indy 500 is still the cornerstone of open-wheeled racing in America) and thus, the racing is rather boring as of late.
- Drivers make decent money, pay drivers aren't as often seen.
- Some F1 drivers find their way to CART when the goiing gets tough (or the politics drive them mad).
No, it's not everything, but it's a useful little guide. Check out a race of each if you get the chance....and check out some web sites. And yes, there are actually those of us whom could tell the difference between an F1 car with a drop cloth over it...like me!