I'll chime in with my personal connection, kinda long. My dad who's in his 70's was a volunteer for a few years at the air races, taking VIPs out to the pylons during the late 90's and early 2000's. He was a pilot and had flying and medical connections ironically. My brother and I attended with my dad in 2009 and had seats on the tarmack down about 100 yards from the impact site.
FF to 2011, my brother, who lives in Oregon went and had grandstand passes on the day the crash happened. Rewind to the year we all went (2009), there was a crash every day for the first three days with three fatalities before we attended the next day.
Back to 2011 and the crash. My brother was in the pits when the crash occurred. He estimated about 150 yards at least from the crash. His recollection was of a man coming from the crash with little clothes and doused in airplane fuel, it was surreal. He took a couple pics from the grandstands of the scene when they were allowed to get their stuff. I won't share them, but they are valuable to what I do in Mass Fatality Planning.
To add to the connection, several members/friends of my parent's church in Overland Park, KS were avid race fans and in attendance. Several of them lost lower limbs, as they were standing up when the crash occurred. (friends were a husband and wife), his father, and his mother was the last person identified as deceased, she was unable to stand up, as the others were when this happened.
Saying all of this, I would not hesitate to attend the Reno Air Races. It's all about risk assessment. Stuff happens, but It's an amazing experience.