The equivalent of the Daytona 500 to Formula One racing is probably the Monaco Grand Prix. The difference between the two is that F1 is probably more international in scope than NASCAR is. That's on a broad scale. From the practical, it's the type of vehicles that are used and the tracks raced on that are probably the most obvious differences.
Monaco grand prix hospitality deals with a huge number of visitors for this race which twists and turns its way through Monaco, the last home of America's beloved Grace Kelly. It's a course that is difficult to pass on, but it's a prestigious event that the drivers look forward to.
Regardless which sport you are passionate about, it's definitely time to go racing for 2011.