Here's my take on it: Qualifying: Return to the old style 1hr timed qualy with every car having to do minimum of 12 flying laps, minimum 1 flying lap in each of the 4 quarter hours; best time out of 12 and best time out of the field gets the pole. If any driver does not complete the 12 flying laps he loses qualifying positions at the rate of 1place/2laps. Driver qualified pole carries (n-x)kg of lead weight. Where: n = number of cars and x = qualifying position;
Engines: 3l normally aspirated, no forced injection, piston number and configuration open Engines need to last for a minimum of 3 races with up-to 25% of internals being able to be changed at trackside without penalty. If engine needs changing 5 starting places and 20kg of lead weight handicap added to the car.
Gearbox: Up to 8 speed, no traction control, no launch control, no anti-stall Same as engine, penalty applied for more than 25% of internals changed during the 3 designated races lifetime. Only one penalty set applied if both engine and gearbox need changing.
Tyres: Slicks. Manufacturer brings two track optimum compounds for the weekend, teams/drivers chose which they want to use. Limited to maximum 3 sets of each compounds for the qualy and for the race itself. Drivers/Teams free to chose which compound they want to run.
Chassis: 500kg minimum driver+car in race trim, kerb weight Set parameters for front and rear wings. Rear wing configuration fixed for the race, front wing adjustable during pit stops. No wind deflectors other than the front and rear wings, radiator intakes must not give aerodynamic effect other than ground effect as part of the integrated floor board.
Fuels: Set octane/composition level, possible single supplier. No compulsory pit stops. Maximum 2 stops
Testing: Every team designates a "home" track where they can test freely, 3 additional official 1-week long winter tests. No testing at any of the circuits on the race calendar until after the race of that year and only for 28 more days after the GP.
General rules: Technical changes to the chassis/engine/tyres set for a minimum of 3 years, with amendments to either curent season rules or subsequent seasons in the life-span being agreed by a majority of 'n-1' of teams currently racing AND contractually committed to the following season.
Dan
PS. As you can see the longer you think/consider about it the more complicated it is to get it fair/right.
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