Always watch the Indy cars when they race in Aussie,the support races have the V8 Supercars as well and that's a great weekends entertainment.
The Aussie F1 is a must. I was living in Adelaide when the F1 started-what a buzz! The place partied for a whole week.
I was working on Elevators at the time so I was in the city every day going from building to building doing service and repairs. Some of the buildings overlooked the track so there was an opportunity not missed there until the local SWAT team told us not go onto the roofs and the Police rang our office to tell our management not to send us out to those sites.
Pretty exciting stuff watching those things go down the main straight.

White on White fly all night.
Red on White you're alright.
Red on Red you'll soon be dead.