I am not sure exactly how it will be setup this time. There is no coinciding carnival, so that should give a lot more room for the pits, but they are having live entertainment. They block off the main street and detour around it for the event. So, if you are arriving from the north you would turn west at the street detour, then turn south following the detour, then turn towards the river again and start looking for a parking spot. Many homes have parking on their lawns and charge.
You can see the most of the course from either in front of the St Clair Inn, or the park in front of the pits just to the south of the St Clair Inn. I do not know how that will be this year because the St Clair Inn was sold and completely remodeled with the new ownership. They may have yard police or something.
Parking will depend on how much they cut off for the pits. Typically, depending on when you arrive, parking is best on the back streets west of the pits/main street, or paid parking in the parking lot on the west side of the mall behind the pits.
It should definitely be less crowded with no carnival event.
When are you going over? I'll be there Saturday and can update from what I see there on Saturday evening.