Formula 1 budget cap - your opinions..??

Probably you must be aware of the new optional budget restrictions that have been proposed starting the 2010 season. As per this, teams can trade in their budget expenses for a greater technical freedom. The number of teams in the 2010 season would also increase to 13, and the teams have to opt for or out of the budget restriction by May 29, 2009.

Formula One racing’s governing body, the FIA, has revised its budget cap plans for 2010. Teams signing up for the optional cap must limit their spending to £40 million per year (£10 million higher than originally proposed) in exchange for greater technical freedom. This will not include driver salaries or, for 2010 only, engine costs.

Thirteen teams will be accepted for next year’s championship and all must apply by May 29, 2009, stating whether they wish to compete under the budget cap or not. New constructors will be eligible for a participation fee and assistance with travel expenses from commercial rights holder Formula One Management.

A new Costs Commission will monitor and enforce the budget-cap regulations. Those teams accepting the cap will be able to run constantly adjustable wings, engines with no rev limit, more powerful KERS systems, and - in theory - four-wheel drive. They will also be allowed unlimited out-of-season track testing with no restrictions on the scale and speed of wind tunnel testing.

Other 2010 changes for all teams include the expected ban on refueling and tyre warmers, and an increase in the minimum car weight from 605 to 620kg, a move designed to offset the disadvantage heavier drivers face when running KERS.

Read more about this here:
The Official Formula 1 Website

Now the options that this opens up look interesting.. Imagine a field where some cars are free to spend as much as they want, but only change/improve a few components of the car, whereas other cars have more freedom of technical modifications, but within a limited budget. Looks interesting. Whats your opinion in this matter..?

More clarifications here: The Official Formula 1 Website

Now even bmw is threatening to quit if there is a 2 tier season

Now there will be more technological fight like never before.

personally i don't like this policy, yeh its very much exciting about team wars, but will not prove fair to every drivers.

stupid decision imo...I dunno how major teams with huge budgets will be able to work within £40 million per year budget cap. on one hand it will encourage new teams to enter the sport but on the other, the big names might decide to leave.

^^ It is not compulsory. You either opt in and work within the budget with greater freedom over what you want to modify/improve; or you opt out of the cap and use your unlimited funding to make improvements in very few areas. Each team would have the option to opt in or out of the budget cap at the beginning of every season. I feel it'd do a lot more good in terms of more teams, reaching out to a wider audience and also more competitive racing..