Should be interesting to see F1 back on a "proper" street circuit. Monaco is more of bicycle-lane race
I think Valencia will be included in my vacation plans for next year.

Quote:
The European Grand Prix will be held on a new street circuit in the Spanish city of Valencia from 2008.

The seven year deal was announced in Valencia today, and means that Spain will henceforth have two grands prix as Barcelona has a contract to host the Spanish GP until 2011.

Formula 1 is currently extremely popular in Spain due to Fernando Alonso's world championship success, with a huge crowd expected for this weekend's Catalunya race.

Although Valencia has a permanent racetrack on the outskirts of the city - which is regularly used for F1 testing - the European GP will be held on a street track around the harbourside.



http://www.itv-f1.com/News_Article.aspx?PO_ID=39165