Wow, this topic picked up

. For those of you interested in the 'glory days' of F1 technology, be aware that Speed Channel is re-running the 1993 F1 season on off-race Sundays. It's only an hour's worth of highlights, unfortunately, but it's definitely an improvement over endless NASCAR replays. The Williams FW14, as someone previously mentioned, was run that year and probably marks the high-water point of F1 technology. Active suspension would be the most notable piece of technology, since you could lower the car in tight sections and raise it for the straights to cut down on the suction effect.
Ground effects, Venturi tunnels, etc. have been outlawed for some time in an effort to keep speeds down (especially after the disastrous 1994 season when Senna died). Tires were grooved several years ago with the same intention but it has had little effect. The bottoms are essentially flat, but stepped. In order to try to replicate the ground effects, they run the car as low as possible, which speeds the rate at which air passes underneath and decreases the pressure, creating a suction effect, but then that air must be returned to ambient pressure using a complicated rear diffuser. You can see them on modern F1 cars, they look sort of like vertical flaps to either side of the gearbox at the very back.
As for the difference between CART and F1, it's been hashed out to some extent. F1 cars use normally aspirated V10s run on normal gas and make about 900 horsepower. CART cars use turbocharged V8s on methanol and make about 750 horse (I believe... wasn't there talk about going to N/A this year? haven't paid too much attention...) I forget the exact numbers, but I do know that both CART and F1 ran at the Montreal circuit last year, and I believe the CART polesitter would have been 5 or 6 seconds a lap off of Alex Yoong at the tail end of the F1 grid. However, the top F1 teams spend upwards of $200-300 million dollars (Ferrari, Williams, McLaren, and probably Renault and Toyota) and even Minardi spends something like $10-20 million. I'd be shocked if any of the CART teams got much over, let alone near, Minardi's budget, especially since all the chassis and engine development is done by outside companies.
This weekend will be the Monaco Grand Prix. It's unfortunately shaping up to be another Ferrari processional, but for those of you who are reading this thread as F1 neophytes, I'd highly suggest you watch it. It will be broadcast live at 7:30AM on Sunday, but there will be a re-broadcast at 9PM and 1AM, so there's no reason to miss it. Monaco isn't often conducive to fantastic racing, but it's a very historical track in a stunningly picturesque location that's fan-friendly, and it's usually the race that attracts the most new watchers. Check it out!