For actually racing one, there have been a few F1 kits by other manufacturers - less complex and newer than the Tamiya. Really needs a good tarmac track though.
R/C F1's have been around for many many years (25+)
Dave Smeaton and Lee Dolby raced F1's successfully for many seasons in a national Tamiya championship and i think they had another stab at it last summer.
The one you found is 4WD which is unpopular due to unrealistic drivetrain, heavier and more maintainence.
F1's are still raced indoor on carpet at Ardent and W.Bridgeford have a class as far as i know, so its still possible to get use from one... but its more technical racing than off-road and you need to be very quick and consistent with driving to be competitive... good fun to watch though
The 2WD are a lot of fun, I still have mine ready to run some time. Back in the day (mid to late 1990's) when this club raced at Belton Lane school on a full flat carpet track i used to do 40 odd laps but the reactions have slowed an bit..........
You can race any Tamiya F1 chassis in the Super Production Cup but most of the rounds are down south. Broxtowe and Ardent are the closest to us.