I sat around the other week at the end of the California Audio Show chatting and the difficulty of getting a good view of the Louis Vuitton Cup came up.
YouTube has come to the rescue with "live" feeds of the races plus tons of videos of the races already run.
1080p is available if your connection can handle it.
So, invite some friends over, point a fan in your faces and connect your big screen to YouTube.
http://www.youtube.com/americascup