The races are still on through Sunday, I am not sure when the races start on Sunday but for Thursday it was 11:30.
I went on Thursday so I can't say whether the viewing area will be busy, but, it was not bad at all on Thursday. I ended up right at the end of the pier sitting over the water and showed up a few minutes before the race started. They are certainly very cool boats, too bad I don't have an extra $650,000 euro and thats just to by the boat.
You do not need to be a member to view any of it, its open to the public. Just park in the midway parking lot, get the four hour parking for 7$ for 4 hours. Then walk to the broadway pier, (the next pier back towards the star of India) or you can view it from the end of the midway parking lot. Hope you feel better.
I would certainly come out again if I didn't have to work.