Don't worry. There is still an even on May 2nd. It is just more like last years K-1 Las Vegas than the K-1 USA.
Here is a brief history of the K-1 USA and K-1 Vegas.

1998 Rick Roufus wins. The finalist, Schuster, couldn't fight. Roufus fights Filho in Osaka and gets his legs kicked until he falls.
1999 No event.
2000 Andrei Dudko wins. He doesn't fight in the next tournament; finalist Kucharzewski does.
2001 Maurice Smith wins. He qualifies for the K-1 Vegas in August where he beats Krut and losses to Aerts.
2002 Michael McDonald wins. He qualifies for the K-1 Vegas in August where he wins. He then fights Sem Schilt and losses by decision after he takes a knock down in the third round.

Unlike other "national" tournaments, the May 2nd event doesn't qualify the winner for yet another tournament but rather for the one off matches. In fact, the winners of the preliminary tournaments are actually trying to qualify for the May 2nd event since it is one of the 4 Semifinal Tournaments.

K-1 World Grand Prix 2003 Preliminary Tournaments will be held in France (Jan 25), Brazil (Feb 23), South Africa (Feb 23), Sweden (Mar 15), Holland (Apr 6), Italy (May 10), Croatia (May 10), Belarus (May 15), and Spain (Jun 21).

These will be 8-man elimination tournaments in the familiar K-1 knock-out format, with a single man from each advancing to one of the Semifinal Tournaments (Las Vegas, May 2; Basel, May 31; Paris, June 14; Melbourne, Jul 27).
-Source: K-1 Official Website.


So, far this is in the works. Expect some changes.

Superfights
Mirko Filipovic[1] x Michael McDonald[19]
Stefan Leko[16] x Eric Esch[unranked]*
Mark Hunt[10] x Gary Goodridge[14]


Grand Prix

Jeff Ford[42]
Dewey Cooper[120]
Gissepe DeNatale[133]
Rick Roufus[159]
Carter Williams[166]
TBA
TBA
TBA

As we can see, there are 3 spots left. One was supposed to go to the K-1 Brazil Champ but he got his brains scrambled by Ernesto Hoost.

So who will take the spots.

K-1 France Champ? Not a chance. Tony Gregory is certain to fight in the K-1 Paris.

K-1 Sweden Champ? Unlikely. Lindwall would be too dangerous and winning would be anti-climactic. Notice they took out the Canadian who won last year. The winner has to be American.

K-1 Netherlands Champ? Not as dangerous as Lindwall, Krut is still an unlikely choice. However, he lost to Smith so if Mo can be coaxed back into the tournament, we might see Krut in the K-1 Vegas again.

K-1 South Africa? There was no K-1 Africa this year. Still Andrew Thompson might be a good choice. He is big and has no chance of winning the tournament.

K-1 Brazil finalist? Also a possibility. Jefferson Silva wouldn't have won the tournament so we can reasonably assume that the guy he beat in the final won't either.

Others:
Quinton Jackson[22] might be a good choice but he is interested in fighting Vanderlei Silva for the PRIDE title. May be a little too expensive too.

Marvin Eastman[43] knocked out Duke Roufus last year but is essentially an MMA fighter. Probably a better choice than Jackson.

Jeff Roufus[50] probably won't like fighting his brother.

Chad Bannon looked too embarrassing to be given a second chance. Also, a member of the Sherdog forum did some research and discovered that he posed nude for gay men's magazines. That's just not proper.

Kevin King was supposed to fight Fujimoto but that didn't happen. Maybe he'll get a shot now or maybe he'll be in the same place as Bannon (I mean out of the tournament, not in gay porn.)

It won't be long now. We'll find out who is in and who is out.

If I were in charge, I would get
Smith
Krut
Thompson

*Yes that is Butterbean.