Keep in mind that anything you win( or loot!) in a 1-2-3 hour race( as well as the week-long races) can easily be transferred to your normal league characters. So if you are better/luckier than the others in the race, you can make many times more valuables in 3 hours there than 3 hours playing normally. It's definitely to be considered as a potential source of income. It's unlikely that you'll actually win the entire race, but there are prizes for top 5 or 10 of every class, as well as being first to enter an area, killing a specific boss or completing specific quests.
Very true.
Also, if you run practice runs that brings in a LOT of loot. I ran a lot of 3 hour practice runs, and never used any of the currency items as I was trying to go fast, and do well with crappy stuff, and thus didn't use any currency. You then get to transfer all that loot.
Personally, I prefer the game when it is hard rather than when it is easy. And I don't understand the need to have the best stuff because ultimately that just makes the game too easy and thus boring. The sooner you out gear the game and trivialize the game play the sooner your will grow bored and move on to something different.
I still maintain the fun of PoE is starting new characters from scratch and exploring new areas of the massive skill tree. The 3 hour, and other races are a lot of fun because of the fact that you don't have twinked characters.
Also, I should point this out. It is possible to get extra stash tabs for free on your main account. As far as I can tell an unlimited amount that last forever.
Anytime, you enter a timed league (3 hour, 1 week, or 2 week or whatever) and your character survives until the end. Then all of your items are moved to temporary stash tabs and converted over to your main account. You can't put new items into these stash tabs, and once you take an item out you can't put it back, but you can in fact get extra storage.
I never bought any stash tabs but I had over 20 temporary stash tabs that I just used for storage. So you can use the timed leagues to create extra stash tabs of stored rare loot... which you can then use for those recipes.
So there are lots of ways to get extra storage for free.