It's one of the best tracks for spectator viewing - you're meant to be able to see the vast majority of the track from certain points.
Never been myself yet, but one of my mates(who had a Hungarian GF at the time) went to see the 2003 race, and according to him one of the best places to view the race was on the hillside overlooking the last corner.
The hillside overlooking the stretch from the back chicane to Turn 11 is probably particularly good too.