I'd stay away from those too. Sponsorships are overrated. You then have to put the companies sticker on your car. Also, I'd rather it just be a car show and racing. Who needs a Bikini contest, bubble pit, and a DJ. The cars should speak for themselves.
I agree with the Older car guys too. I'm 17 but, I really like hanging out with the guys with muscle cars or high-end newer cars. They know there stuff and are usually open to teaching and discussing cars of all kinds. Of course then you get the guy who is 27 and rich as hell who decides to drop $15,000(Fully built engine, and $4,000 for the Centrifigul Supercharger)into his G35 then he sells the supercharger and is going with a Custom Twin-Turbo kit that will be insane and cost something around $10,000 for the Kit and install.
I also prefer to hang out with guys who mod their cars to be fast not, for looks. Luckily that's mostly the guys around here who come out. Even had 600 cars and over 50 Sport bikes show up one time. Gotta love MKIV Supras, Modified Vettes, Evos, Cobras, Mustangs, SRT-4s, 240SXs, 300ZXs, RX-7s (FD and FCs, 5 of them were over 500hp), 11 Second 3000GT VR-4s, Porsches, and many other awesome cars.