It's a spectacular sight, you won't forget it. We camped in the designated campground, which is right across the street from the launch field, and most days all the balloons came right over our campsite. If you do want to go to the launch field, there are shuttle busses that run all day to the major events. Get your reservations in early, they seem to fill up pretty fast.
Also, the end farthest away from the launch field (south, I think) is higher ground than most of the campsites. Valuable info if it rains. We saw a lot of folks wading after a heavy downpour last year.
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