Well, if you've been racing or riding for a long time, I wouldn't suggest taking Level 1. It's not really eye-opening in terms of things you learn, but it definitely helps out. I enjoyed it and thought it helped my riding skill out a lot. I kinda wanted more out of it, but it was still good.
For Level 1, you show up in the morning, register, and get dressed. They start the classroom portion followed by a track session where you practice and apply the skills just taught in the classroom. Level 1's classes are throttle control, picking turn points, quick turning, rider input, and two-step turning. In the space between classes and track sessions, you ride the no b.s. bike that'll teach you that steering input is in the handlebars mostly, and the control bike that teaches you how to do clutchless upshifts and blipping the throttle on downshifts. It runs like clockwork, so you go from classroom to track with very little downtime in between. The downtime that you do have is spent on the no b.s. bike or the control bike or with one of your assigned instructors.
Every 2 students is assigned one instructor that'll follow you on the track and watch your riding and then have you follow him through the track to mimic some of his movements. After each track session the instructor will do an after track brief with you and the other student and go over things to work on and things that you did well and answer any other questions about riding like body positions, etc.
I should have asked the instructor more questions, but I drew a blank, so there's still a bunch of questions I want to ask the guy.
Overall Level 1 is good for guys new to the track or want to improve bike control. I wished they taught a lot more stuff, but I guess that's what the other levels are for. I'm not sure if they'll allow you to skip levels, but you can always ask them.