I did not watch the derby and haven't for a couple of years. To me, it is too long and boring - a glorified batting practice. After what, 20 years or so?, I think it's time to change it up a bit.
I hadn't really thought much about it, because I really didn't have an alternative. But last week I ran across a posting by Gabe Kaplan on Fox Sports, where he presents a different scenario that sounds at least interesting. In addition, it expands participation.