The formula once license has been bought buy CodeMasters and they say they are releasing the new multi-platform F1 game in 2009.
The forums for the game are here:
http://community.codemasters.com/for...lay.php?f=1011 although nothing really there atm
I would imagine this game will be along the same lines of Codemasters new arcade/simulation mix with lots of crash graphics etc.
Thought some of you might be interested...