Some folks in Tucson are trying to do just this, I think it's what your referring to. They keep spinning it up but it doesn't seem to be taking. A friend of mine who lives there said they had a hell of a time trying to build a baseball stadium and doesn't think they could pull off anything of this caliber, I hope he's wrong.
I maintain my steadfastness against the NJ deal, Newark is a shithole and though I'm sure they will try clean it up it's just not a place I feel an F1 race should be held.
My buddy and I are debating wether to take our cars to Laguna Seca or COTA this spring, I will be happy to drive either so long as it's the Full Course at COTA, I want to drive the real deal.