If they (magically) let F1 be unrestricted a few years ago, what monster of a car would we have now? over 1000hp? more downforce then a non-g suit wearing driver could handle? any speculation?

Full size Scalextric.

Something like this but with large underfloor venturis and perhaps a turbocharged engine.

Thats what I was about to say.

Honestly, the cars would be probably hovering and not driving.

lol....

Quote from Exile R :

If they (magically) let F1 be unrestricted a few years ago, what monster of a car would we have now? over 1000hp?

Been there done that, saw the deaths. Mid 80's F1 engines could do 1500HP in qualifying.

Quote from ATC Quicksilver :

Full size Scalextric.

Pretty much this with programmed and scheduled crashes and pit stops and passes.