There has been a lot of debate as to whether the Indy 500 maintains its allure.... I firmly believe that it has. Bottom line is the CART / IRL split has hurt open wheel racing in the US. There is not enough sponsorship $$ to support two leagues, nor are there enough fans to support two leagues. My guess is that CART will end up folding in 5 years or so. It is way too expensive to field a competitive car in CART. The major difference between the cars at the races is that IRL cars are naturally aspirated (that is non-turbo charged. So, rather than a high pitched whine that made the stands vibrate, there is a throaty, low pitch rumble that makes you vibrate. As far as a family event, you can absolutely bring your family there, I would recommend sitting on the infield on the back stretch on the grass hills and having a picnic. Hope this helps.