F1 the pinnacle of sporting technology?

I'm not a big fan of F1. All my friends watch it but somehow i never found it interesting. I used to watch it earlier many years back but then i gave it up totally. Now occasionally when i happen to change channels or something and i happen to see it then i might watch is for a little while and change the channel. My knowledge regarding F1 is very poor or rather void to be very frank.

I love F1. I watched it since the early 80's and what a difference in cars from then till now. In the 80's there was super high performance engines that could do 700-1100HP. Now the numbers are creeping back up despite all the regulations. The cars stick way better to the road now despite not using slick tires. While regulations try to slow the cars down, technology will alway go on top. I love the idea of no traction control now. It throws a loop into past thinking where a driver uses less skill. I need a F1 car!