As a race fan, the noise a race engine makes is very important- it's a huge part of the experience of seeing a race live!
Of all the types of racing I've seen live, top fuel drag racing provides the greatest tactile sensation. As the cars go by at over 300 mph, you can feel the heat from the exhaust (at 100 feet away) and your eyeballs literally rattle about in your skull!
As far as F1 is concerned, most engines for the last 20 years have had acoustically pleasing header designs. Whether they're V6 turbo's or N/A V8, V10 or V12's, they had even firing in each cylinder bank/header, so they sounded good. The only race engines that sound flat are NASCAR V8's (with a cruciform crank) or Superbike 45 deg V-twin Harley's and 90 deg V-twin Ducati's.
Also, remember when the IRL started, they used N/A 90 deg V8's. The engines sounded rather "un-race-like", so two years later they switched to a 180 deg (flat) crank configuration, to make the engines sound more "race-like".
As for the W12 engine proponent, Mr. Guy Negre, he is currently pimping for a company that is developing an "emission free" commuter car that runs on compressed air! http://www.theaircar.com/aboutmdi.html
Compressed air....Hydrogen fuel cell....Perpetual motion.....What's the difference? All of these concepts ignore the basic laws of economics, chemistry and physics. Is Mr. Negre any worse than Honda, GM or Toyota and their fuel cell B.S.?
I'll get off of my soap box now.......