Over at BlogF1, Oliver White has asked the question I Love/Hate Monaco Because... I was going to answer in a comment but then realized it would be too long a story and really needed a post to itself. So here's my answer, Ollie.
Gilles at Monaco
I love the Monaco GP; it is one of the two highlights of the year as far as I am concerned, the other being the race at Spa Francorchamps in Belgium. The attraction of Spa is obvious but Monaco has memories for me that guarantee it a place of honor. It was the first GP I saw, admittedly on a black and white newsreel, at least a year out of date and absurdly edited to a few seconds of grainy film. But it was enough to turn me into a F1 fan from that moment.
It was film of perhaps the greatest Monaco GP ever, you see - the 1961 race in which Stirling Moss, in a little, boxlike Lotus, took on the mighty Ferraris and humbled them. That year Ferrari were way ahead of the competition, having a car, the famous sharknose 156, already designed for the new 1.5 liter formula before it was revealed. The British teams were caught out by the sudden change and their cars were hastily cobbled together around an adapted Coventry Climax firepump engine.
In the early races of that year, Ferrari put on demonstrations of power as their cars lined up for the victor's spoils. But Monaco was different - here the tight corners and short straights meant that the power advantage of the Italian cars counted for less and there was just a chance that the smaller teams could get amongst them.
In the event, however, it was only the brilliance of Moss that could challenge the Ferrari supremacy. Early in the race, he took the lead and stayed there, just out of reach of Ferrari drivers Phil Hill and Richie Ginther. It was a classic David and Goliath story of the type that makes GPs live forever; I was hooked.
Journeyer has collected some excellent videos of past Monaco races for his guest article on F1 Fanatic and the 1961 race features; it is well worth a look, although, like the newsreel I saw so long ago, it is very brief. But I would point to the number of great races that have taken place in the Principality and suggest that Monaco is unjustly criticized for producing boring races. It is just not true.
Ask any driver from any period and he will tell you that it is impossible to overtake at Monaco - and, theoretically, that is so. But the facts conflict with theory, the GP often producing more leader changes than most other races on the calendar. Often, this is thanks to retirements through contact with barriers or other disasters but there are times when the great drivers find a way through anyway.
I recall one Monaco GP, probably about 1981 or thereabouts, when Nelson Piquet in a Brabham BT49 came up behind the leader (can't remember who it was) and sat behind him for lap after lap, looking for the passing point that was not supposed to exist. Then Nelson began to drop back, apparently having given up the hopeless quest. There followed a lesson in the creation of passing manouvers at a spot previously thought impossible.
Coming up to the entrance to the tunnel, Nelson still had that gap between himself and the leader - emerging from it he was right on the tail of the car ahead and invisible to its driver. As they approached the chicane, Nelson dodged left and was level under braking; unable to turn in without hitting the Brabham, the leader was forced to give way and Piquet was through and gone.
That is the glory of Monaco - it forces the great drivers to do the impossible. Add to that the fact that it gives drivers of less competitive machinery a chance to show their skills and we have all the ingredients of a classic circuit. When we factor in the frequently-mentioned setting, the boats in the harbor, the steep inclines, the elegant Monegasque architecture towering above the narrow streets, there can be no doubt that this is a race that deserves its permanent place in the calendar.
Even those Monaco GPs that fail to produce heroic moments are worth watching for the atmosphere and the visual splendor. There is nothing quite like it anywhere else in motor sport. May it last forever.