I quite enjoy the channel 4 coverage, even with just the highlights. All the boring bits of the race get cut out
I have and will never pay for Sky + Sky F1. The cost is ridiculous, especially as I watch literally nothing else on live TV. Every dealing I've had with Sky (Broadband, Mobile etc) they have tried to screw me over one way or another. I can't believe people blow £80+ a month on Sky TV.
I tried Now TV for a day pass for the first race of the season and had a few mates over, so we split the cost. However I was shocked when I found out that if you want full HD it's an extra £3, making it £13 for the day! I then found out the app wasn't available on my smart TV nor my nVidia shield. The app for Xbox One also didn't work and wouldn't let me sign in, so I had to faff around connecting my laptop via HDMI to the TV. The stream was ok, but every 5-10 minutes it froze for 3 seconds or so before continuing. I know it's not my connection as it's 100meg.
Overall a pretty terrible experience. Would not recommend. If there isn't another way to watch it reliably after Channel 4 lose their rights I doubt I'll continue watching. Shame.