From what I have read, the BMW F1 engine designer responsible for the P82 has been at McLaren-Mercedes since last year. Apparently, and i can't recall where i read this but i KNOW i did in a reliable source, that the designer will be given free reign over the new design for the '04 powerplant. Now, whether this tid-bit means that Ilmor will build a hot motor for the 19's this year cannot be determined.
I believe the one-engine rule is good overall, but as we've all read the prospect of replacing a blown motor during the weekend with a short-life motor ready to finish only the weekend is a little dissapointing. However, I am willing to bet that this does not become commonplace next season at all.. reliability will be paramount this season, and the penalty of 10 grid positions is painful - especially without launch control this year.
Reliability will be key, and i expect Ferrari will lead the way for reasons mentioned as well as based on their general track-record.. I dont think Schuey's had a technical failure since like '01 or something stupid. BMW may build the hottest motors (Motor is their middle name hehe) but the reliability question is key i think.. Mario Theissen seems confident, but aren't they all?
I would like to see smaller displacement V10's if they do decide to cut power more.. a 2.5L V10 would be wicked and then we'd be able to see the 20k rpm mark surpassed easily.
I'd also like to see the elimination of camshafts altogether and a programmable solenoid acutation system for the pneumatic valvetrain.