There really is no bad spot to leisurely watch the races with terrific views of the finish line.
Races occur every 10-15 minutes, as one heat is racing another set of boats are paddling out and getting into position under the Marquam Bridge. So the action keeps coming.
On the second day, after times have been set, and the final brackets are positioned with teams evenly matched, the races get really exciting. Even though I didn't know any of the teams, I found myself cheering during the final races.
One unexpected bonus of having the Dragon Boat Races occurring the weekend of the Grand Floral Parade and the final weekend of the Festival City Fair was that going to brunch at usually busy restaurants was a breeze!