Apologies if you already know some of this, but I'll just lay it out there for everyone.
Formula 1 is a very specific license. Currently that is held by Codemasters for the purpose of the F1 2010 game (and possibly 2011?).
So, we are 99.9% sure that PD cannot use anything with the F1 logos, etc.
However, there is a little disagreement beyond that.
Such as:
1. Can PD go to each manufacturer and license the car from them?
2. If so, can they do that on 2010 models? or does the ability to license from the manufacturer only allow for older (2009 and back) models?
In previous GT's the only F1 similar car was the Formula GT which is a mock from PD that uses older F1 regulations. However, GT5P had the Ferrari F1 from 2007. But I believe Sony held that license for that year.
But, there has been very strong clues for the inclusion of either last year's or this year's Red Bull. So, most of us are tentatively expecting one of those models.
And now...
A random picture shows the Virgin F1 car. And everything gets thrown into the air.
Again, apologies if you already know this, but I used to be a random lurker of these forums and wished someone would lay it out like this. So, I figured I would go ahead and lay it out for those guys as well.