I agree that F1 could borrow some excitement of overtaking from, say, NASCAR. :)
The last couple of years have been pretty darn exciting, though, with Schumacher NOT dominating the races anymore though still being one of the top contenders. Renault has been impressive with its young talent, Fernando Alonso. McLaren has been struggling this year but is still worth counting on as a solid runner.
Me? Being a BMW owner I'd really like to see BMW-Sauber do a better job. :*(