Complex One.
I guess your answer lays somewhere between licensing-based Bermudian Quadrangle consisted of:
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Ferrari Spa. Licensing Division (actual copyright owner of everything in the world with Ferrari branding on it),
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FOA (Formula One Administration) - company that holds the commercial rights to Formula One. These rights are granted to FOA by the FIA under the terms of the Concorde Agreement and are managed by Formula One Management.
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Codemasters - which holds the actual licensing rights for everyting F1 related in video-games untill end of 2011
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Polyphony Digital/SCE - who used some loop in licensing contract between upper-mentioned FOA (FOM) and Codemasters probably founded and initialised by above mentioned marketing/promotional/licesing division of Ferrari Spa, granted under unknown circumstances
Only logical answer was that Ferrari and Polyphony Digital agreed about inclusion of both F1 cars in GT5, but they had to avoid any real "usage" in order to save themselves from backslahes that would probably come because of various copyright/license infringements that very existance of those cars in GT5 could start.
Also, Ferrari probably didn't allow to have direct races between '07 and '10 cars because of different specs. Worth noticing is how '07 car run on grooved racing tires while '10 car runs on full-slick. You can argue "yeah, but they could allow it you know", but that is probably the reason why you don't work for Ferrari Licensing Department
What you should also take into concern is that Gran Turismo 5 is the ONLY game on ANY platform that allows you to have both F1 cars and regular cars in the same game, so in my book that is one hell-of-a-licensing-achievement from both PD/Sony side and I am very grateful for that - especially because I am more than aware about crazy issues in today world of licensing bussines and extremly complex corporate praxis towards branding and such, especially in automotive industry.