I wasn't at pre-qual this year, but went last year with Powermite and his gang. Although there isn't a huge amount of real "race action", I'd recommend it, as you can buy a ticket to drive your car into the circuit and then drive from vantage point to vantage point with ease - it is MUCH quieter. It was also easy to walk into the area at the back of the pits. We stayed in a town centre hotel, although I know the TWATS and others regularly camp on circuit.
So although it bears no comparison to the real thing - it just gives you yet another view of the build up. Worth doing at least once - especially as you can re-bond with many of the CA regulars!