Had some thought...was thinking of a somewhat Champ Car-based formula.
Basic car specifications
3.0 turbo V8 with pop-off valve at 15psi, and overboost function to 19psi. Valves controlled by FIA
Car physically larger and heavier (700KG without fuel/driver) (simply because I want to see how the constructors overcome this)
Allow limited ground effects tunnels with a set cubic meter limit: limit will be determined by laser inspection on raceday
steel brakes
no KERS, as not even teams are enthusiastic about them.
Win Penalty system: more a car/driver wins, and the better they finish, the more weight it must have at weigh-in before and after race. 30kg - 1st, 20kg - 2nd, 10kg - 3rd, or something to that effect.
13,000 RPM Rev Limiter
Alcohol-based fuel (methanol or ethanol)
Minimum fuel mileage of 2.5 MPG (US)
Homologation:
All parts must be submitted, inspected, and homologated before they are allowed for use. A team may not race with an unhomologated part. If a team is found to have an unhomologated part, the team loses all championship points earned, must return the race winnings, and the car shall be impounded, only returned after a thorough disassembly andinspection. All parts other than those in an engine may be submitted for homologation mid-season. Engines, transmissions and their parts may only be homologated during the off-season. All points-scoring cars will go through an engine-disassembly-inspection to check for part homologation. Parts must be bolted-in: permanent methods of fastening (rivets, welds, casting parts within others) is prohibited. Homologated parts are kept on hand to compare, in order to ensure that a part is the same. Chassis Parts may not be outside a + - 1 mm consistency tolerance, tighter for engine parts. Chassis parts must also weigh within + - 1g of the homologation part, less for engine parts. The main chassis is kept to tight tolerances as well.
Lean inspection methods will be used to expediate the homologation process.
^The preceding, after reading, seems to be outside the rule of Ecclestone, but I'd make sure I had a hand in that, anyway. X3
Courses and season:
Courses chosen will be based upon their safety, challenge to the driver, historical significance, and condition. Olympic-grade facilities are not required, however, facilities must be clean, well-kept, and accessible. All accessibility standards for sporting facilities must be met. A longer schedule, with more races, will be run, minimally 20 rounds, ideally 30. The season will start sooner, ending later. Teams may choose to run a limited schedule, but will not be eligible for championship points. However, they will be eligible for prize money. Teams must announce their intention to run a limited schedule, and cars must be homologated, before the season starts.
Financial:
Teams must submit a full report of expenses and gains for the entire season. The FIA will work closely with governments for financial information. If any large amounts of money are found missing, and anything is found awry, the team will be disqualified from Formula 1, and the government will take appropriate action. The FIA authorizes the Government of the Nation within which the team is based to take any action necessary, including, but not limited to, Military or Police action against the team. At this point, the implementation of a budget cap is undecided. Bribes will be enforced even more strongly than before, resulting in an immediate 5-year ban for the team and manufacturer involved, and immediate termination of the FIA official.
Spying:
Because all cars must be homologated, and information on the cars is kept on hand, no FIA member may release information about a team's parts to any member of another team. The penalty is a 5-year ban and immediate termination of the FIA official. Direct espionage between teams will result in a 3-year ban for both teams, regardless of guilty/victim status.
