That looks like Elio De Angelis in the John Player Special Lotus 95T at Monaco. Those were the days.
I was 18, and I was nearly able to walk into the Lotus Team pits as I followed Elio from the track to the Convention Center at the 1981 Long Beach GP. He was kind enough to stop and sign my race program as the secruity guards were turning me around and heading me back out.
Ic- racer certainly has the right idea for "vintage". And if you mean B&W, I'd shoot an older style emulsion like FP4+ or HP5+ or Tri-X and then maybe push it a little.
Fixed length teles, probably not much more than 300 mm for pre 1980 technology. No wides more than 24 or 28 mm. An 85 mm would probably be a good "I'm not quite in the pits" length to get you a little closer when you can't get over the wall.
My father bough a 100-500 f/8 zoom in 1979 for his Minolta, and it was like shooting a cannon - it was big and heavy. Not the sharpest, especially compared to more modern designs, but it was flexible. I got a really nice close-up of Gilles Villenueve in his Ferrari at Long Beach with it. He was looking right at me as he was waiting to go out an qualify. I need to scan that shot.
Also, no shutterspeeds over 1/1000th second...
Get some old Autocourse or other old racing photo books from the era you're interested in and study the shots. Actually, go check out Pete Lyon's web site. He shot Can-Am and F1 in the day and is one of America's Premier motorsport photographers. www.petelyons.com He's a very nice guy and I'm sure he could tell you what his gear/kit was in the day. Also, look at the Klemantaski Collection at http://www.klemcoll.com/
Kirk - www.lotus30.com