Ok, so it's not the flat track, no brakes, motercycle demolition derby that we all know and love, but here's an example of oval-track racing being pretty cool:
IMCA Modified Feature @ Aztec Speedway 8-27-11 In Car (http://www.youtube.com/watch?v=HWthJv0RswE#)
After about 3:00 it gets kinda dull due to walking away with the win.
My older brother runs IMCA modifieds in Aztec, NM. He's got the points lead there (7 wins this season), and in Cortez, CO. RWBodiford has videos of most of those races.