I will use foam earplugs on Friday. They do help. On Sunday I'll have a scanner and the headset really blocks out noise. However for the start, no headset. Don't want to miss that sound, its unbelievable.
For the best/closest pictures position yourself at pit out. There are grandstands there and walkway infront of them. Its just north of the victory podium. Cars will come up to the the pit exit and stop, rev their engines and practice their launch. YOu could be as close as 10-15 feet. For F1 that is incredible. For this you will need maximum ear protection. Or you will suffer the same fate as I. Felt like stilletos were piecing my ears.
BTW - the weather looks great except for light rain on Sat. which always make it more interesting.