hey mate, whether the course is right for completely depends on what you want to get out it / gain a greater understanding in. Personal having done an ND and nearly completed my BA (hons) in photography & Digital imaging (only 4 weeks left ahhh lol), i found the 2 year ND far more enjoyable in terms of learning and applying techniques in a practical 'hands on' approach. Most the stuff i have learnt on the BA has been heavily theory based as is far more about critical analysis of images etc. therefore lots of essay writting
i would definately recommend an ND course, it gives you a great knowledge and skills base to work upon and i am glad i have done it. i went into it knowing sod all about photography other than i could push a button and sometimes take some ok pics, you will learn all the aspects of how cameras work and on my course i learnt how to develop and process film and handprint my own images both colour and black and white. i also learnt how to use medium format and large format cameras. i was introduced to photoshop and developed a level of understanding so i could happily setup various studio lighting set ups on my own. and much much more. basically it gives you an execellent grounding. however if all you want to do is shoot motorsports stuff then other than the camera functions there might not be that much benefit to you. you might there decided an evening or summer course is enough. you will find that you can still work part time whilst doing the nd course if you need to.
as for lenses i managed to get a canon 70-200mm F4 L series and a kenko x1.4 teleconvertor for about £350 new which is a bargain but you should be able to get them new or nearly new for under £500. normal price is about £325-£375 for the lens 2nd hand and £80 for the teleconvertor. obviously condition and the recent price rises in new equipment will effect the price
James