The City of Austin has published some great resources for folks living/working/visiting downtown during the inaugural Formula 1 race.
I think the best practice will be, next to walking, to take the FREE Downtown Loop – This free bus service will help you get around downtown. It will run Nov. 16 – 18 from 7 a.m. – 2:30 a.m, every 15 minutes (may be delayed due to traffic). It will circle 15th St., San Jacinto, 7th St, Red River, Cesar Chavez and Lavaca on a continuous loop. (map)
The ‘Loop will be like the Dillo, except people are expected to use it. (Oh, snap!)
Parking and shuttle service is the 2nd best way to get to COTA. The myriad of State parking garages along San Jacinto will finally pay off.