A. It's not technically speaking a Grand Prix, which has historically become synonymous with Formula 1.
B. Even more anally speaking, Grand Prix, just means Big Prize, so any big race could be called a Grand Prix.
C. If you think downtown San Jose is anything like as picturesque as Monaco or as fun a track as Monaco or Melbourne, you're smoking crack.
D. It's about freaking time they did something to push CART/CHAMP - it's infinitely more entertaining to watch (especially on a road circuit) than NASCAR. Especially for the rest of the world.
E. There's no reason over the coming years they couldn't make it a road circuit worthy of F1. I think it's bloody marvellous that they did it, especially somewhere so litigation-happy and 'anti-danger' as California. Some teething troubles with surface/layout/access, but nothing they couldn't iron out.
And GREAT PICS! You shoulda taken more! Hmm, wondering if I can get a pass to the Adobe building for next year...