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In the past I've found a 3-day grandstand ticket to be very good value. These give an allocated seat in a specific grandstand on raceday, with roving access to most of the other grandstands on Friday/Saturday (some get reserved by sponsors - eg vodafone usually have one which their customers can use). Lowest prices here are £225 for an adult in one of the Copse/Stowe stands. Either spot is good. Views of the largest part of the track are now probably from the Becketts/Village stands, though Vale is also pretty good.
General advice would be to spend Friday having a walk round and watch each session from somewhere else (and check where you'd be on Sunday). For the F1 I'd recommend spending at least some time at the top of Hangar Straight looking back up through Becketts to Maggotts, which gives you a very good view of the speed and cornering ability of the cars.
On Saturday pick a couple of good spots that aren't your Sunday perch.
These days I get a much better and closer view as I'm marshalling...
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