Hey Cool Woodman, hope to see ya over there soon! You may already be on top of whats going on with the mod, but if not, heres some advice: Definetly go check out the mcomod forums, there have been some fun little updates to the mod, and youll want and need them, plus Ralph368 has gotten a bunch of aftermarket tracks posted, and youll want those too!
But the best part is, WE HAVE a small group that RACES NIGHTLY ON GAMESPY!!!! We are still waiting for F1rst to update thier MCOMOD version, when that happens, well, then MCOMOD will have even more features including auto-track dl's and a no cheat security system. In the meantime, theres a small group (anywhere from 3-9) of drivers who do some seriously fun racin on gamespy nightly, the connection, format and accessability is great there too! If you do decide to do that you will need to change the path from gamespy to your F1, and that subject is covered over at the MCOMDOD forums too! Anyone else who's been following the MCOMOD, but hasnt pulled the trigger yet, all I can say is ARE YOU CRAZY??? get over here! the CARS are great (upgraded in graphics from MCO), youll recognize most of em, a few youll be pleasantly suprised, theyre in the process of adding engine and parts system(some of it is already in place), and it already has an extensive gearing and suspension system, not to mention a pretty cool damage model. If you guys are itchen for some serious muscle racin, but have been wishy-washy on gettin F1 loadin it, dl'n the mod and tweakin it, all I can say is its WORTH it!
Did I mention you can run over 10 cars together in the same race??? 
