Certainly not picking sides here (that's not my style), but technically the Flagstaff (and all the 2011 MBAA races actually) were orginally announced in late 2010, or at least Jan 2011. The issue (I'm assuming here) is getting the venue, permits, and course laid out. Considering what happened last year (late snow, followed by fires) I wouldn't be surprised if the FS really held out on finalizing everything unitl they were certain.
MBAA is doing much better this year. They've had one big issue (the timing chip battery death issue at McDowell) and the limitations on trying to race up Four Peaks that ultimately caused it's cancellation. Yes the timing chip thing could have been avoided, but overall, the only two issues were largely out of the organizers control. Results have been up timely, and accurate, with the main issues being caused by guys not turning in their chip when they DNF or cutting the course (usually accidently). Even then, they have been worked out quickly and efficiently.
Obviously MBAA has no control over gas prices or the economy, which I'm guessing is resulting in a lower than desired turn-out, but overall, the racing has been good, fun and very much worth it this year.
There's no question that racing is not "huge" in AZ, but at least we have some. Eight MBAA races, plus the DD series (which looks like only two races now) and a few others scattered is a lot more than nothing! I follow the AZ forum, but notice that weeks will go buy without much mention of racing, even longer in the off-season, so there's no question that we are in the minority.