Yep, stay at the balloon park. Then you can come and go during the early morning, day and evening events! Shuttle service is good in. We walked from time to time also to exercise. We were at the very South end(2007) and had a balloon land(sort of) next to our trailers. Pilot was yelling "grab the balloon"! She had the Ambassador from Spain and his aid on board. We helped with the balloon and drank champagne with him!
http://en.wikipedia.org/wiki/Carlos_Westendorp