A race is by definition a speed contest. If you can loose by going too fast, it is not really a race. I have nothing against bracket racing, but I certainly understand the original poster not being too excited about the idea of switching to format where you can loose your "race" by going "too fast".


What you really ought to consider is switching to the unique race format that is used in F.A.S.T. racing. In F.A.S.T., there is no handicap, no index, no breakout rule, no dial in, no weight breaks, just good old heads up racing. Yet everyone gets a good close race and at least 2 rounds of competition.
Here's how it works. Everybody makes qualifying passes. Qualfiers 1 through 8 (know as the quick 8) go into a pro ladder to determine the event winner. 1 vs. 8, 2 vs. 7, etc. Quick 8 first round loosers go into a consolation ladder to determine the consolation winner. Qualifyers 9 and slower run a best of 3 shoout against their closest qualifying competitor. 9 vs. 10, 11 vs. 12, etc. So the slower cars still get a close heads up race that is just as exciting and competitive as the quick 8.

With this format, the ultra competetive, go for the jugular, always want to be the fastest guys can put in the effort and the bucks to shoot for the quick 8, and try to be the event winner. Everybody else still gets a good heads up race! It might work very well for your events.