F1 Hungary 2012 Qualifying: Watch Live Stream Online of Formula One Grand Prix; Prediction, Preview, Practice Recap

When and where: Qualifying for the Formula One Hungarian Grand Prix gets underway at 8 a.m. ET. Coverage of the session will be on Speed, while a live stream of the final practice session will be on SpeedTV.com from 5 a.m. Live timing and statistics can also be followed at Formula1.com. Viewers in the U.K. can watch a live stream of qualifying on Sky Go.

Preview: A day after Lewis Hamilton admitted that not many more mistakes could be made if he is to claim a second world championship, the McLaren driver set the fastest time in both Friday practice sessions for the Hungarian Grand Prix.

The results come as a welcome fillip for Hamilton as he seeks to put his challenge back on track after retiring from the German Grand Prix last weekend.

"It's been a really positive day," said Hamilton, according to Formula1.com. "I'm very happy. During the sessions we made some useful changes to the car to get it dialed-in, and we're on the right path, but we've still got a bit of work to do."

There were plenty of encouraging signs that the upgrade brought in by McLaren at Hockenheim was paying dividends. Not only was Hamilton dominant, but teammate Jenson Button finished second in the opening session before coming sixth in the second, which was disrupted by rain.

Championship leader Fernando Alonso, who finished fifth in the afternoon, claimed that the rain meant little could be read into the results. But the Ferrari man was sure that qualifying would be all important in deciding the winner of Sunday's 11th race of the world championship.

"Here, qualifying is definitely more important than elsewhere: it will therefore be vital to go into every little detail to be as well prepared as possible for tomorrow," he said.

There will also be much scrutiny on Red Bull this weekend. Since the German Grand Prix, Formula One officials have moved to change the rules, effectively limiting the ways in which Red Bull could aid their cornering performance with engine settings.

The signs were not good for Red Bull as both drivers were some way off the pace in Friday's practice sessions. Despite their struggles, Mark Webber played down the significance of the rule changes.

"There's no change from the engine mapping amend," he claimed.

Two-time defending champion Sebastian Vettel did concede, though, that there was much work to do if he is to close the 44-point gap between him and Alonso.

"There's still a lot of room for improvement and things that we need to do a bit better for the weekend--then we can see where we are," he said.

Prediction: McLaren and in particular Lewis Hamilton look good for pole, although Fernando Alonso could provide a real challenge. Despite their poor shpwing on Friday, the Red Bulls should also feature prominently and could well continue their strong showing of the past two years at the Hungaroring.