There were spectators there last year. Expect it to be hot. Several people ended up in the hospital tent with dehydration-related problems. No lasting issues from that I believe. Take water, sunscreen, hats, shade tent and chairs. Did I mention it gets really hot? Also the very low humidity will quickly dry you out. Keep drinking water.
The launch site is a long way from any towns so a campervan might make for a more enjoyable experience.
The earlier days in Las Cruces were more civilised. I would suggest attending the event at the convention center where all the teams show off their rockets. Anyone into HPR will be drooling over the hardware, and talking with the teams can lead to really interesting conversations.
You can probably talk with the teams as they prep their rockets out at the Launch Area, but please understand that there will be times they don't need distractions.
There will be quite a few cool flights over the launch days to see
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I seem to remember that there might have been a document with information on the event for spectators. Enquire with IREC, or see what Google can find on it.
I wish I was going again this year, but yearly for me is not sustainable unfortunately.
If you are in Albuquerque you should visit the Museum of Nuclear Science and History. Totally awesome to see.