The good news for FS1 is that it will be taking over for the spot currently occupied by the Speed Network. If you can watch Speed now, you'll be able to watch FS1 when it launches and, one would assume, many providers would want to move the new network, now with a broader scope and wider appeal, to a better package with more viewers.
Unlike some other networks that have positioned themselves to challenge ESPN, Fox Sports 1 appears to have the best chance to do so. They have the carriage, live programming and resources to do very well. The network launches on August 17, 2013, just in time for the run up to the NFL and college football season. The first Pac-12 game on the network is a Thursday night game on August 29 as Utah State takes on Utah. The Cougs make their debut on the network on September 7 at USC with kick off at 7:30 pm.
For more information, Fox has provided an FAQ here.
Thanks for that news.