F1 will always be the pinnacle of motorsport as the manufactures constantly strive to make the cars as fast as possible within the current rules.
The new changes will make the cars more economical, currently they manage around 3mpg which is stunning considering the fact that they're pulling around 18,000 rpm for 90 minutes. The changes should also bring down the costs of the sport from mental to merely stupendous.
These changes look like they'll make the racing more exciting as well, as overtaking should be easier with less downforce from the wings and more from the underfloor...
The mention of electic F1 I think it is only a matter of time if the Jaguar concept car is anything to go by, not pure electric but uses micro gas turbine engine to drive generator to drive 4 electric engines click here