Well I think that it is great to see all the old cars out and about on the hills. They may not be as quick as the modern cars, but they have a lot more character. Hearing cars with big carbies with large cams is just spine chilling.
I say let it be, although it would be good to open up the hillclimb for other events.
I particularly discourage more than an enthusiastic drive up there while the road is open though. Have you ever sat somewhere quiet, and then heard a car with a revving and tyres squeeling? For some people that can be downright scary, because you don't know who is driving or what their capability is, or even if they are pissed or on drugs. You pray to god that it will end okay, but crashes happen and you think that you might be about to hear one. If you have ever been witness to serious crash, you can live with those scars for life so you can imagine how people feel when they hear a car racing that shouldn't be doing it there at that time.