I guess if you get an assigned numbered seat and you don't want to see any of the support races, you can pull it off. We had assigned and numbered seats in Hungary this year, which was much better than the general admission seats we usually have. You'll still want to schedule two hours on either...
Because you hate F1 so much, you want to be in Austin for FB just so you can ignore the race? :p
By which I guess I'm trying to say, having been to both a Fall Ball and many F1 races, the two are definitely mutually exclusive.