Aren't they suppost to introduce next year some sort of electric hybrid technology so energy gets recaptured under braking and then can be used like the OverBoost button back in the turbo days?
As far as costs getting out of control I only have two things to say:
1) read the point above about introducing some completely new and radical technology.
2) it costs so much to compete because the top teams have that much money to spend. Period. Do whatever you want to "reduce costs" and the top teams will still find a way to spend the money they have to spend in order to find some sort of technical advantage.
Remember when they started to limit the amount of track testing teams could run in a season? If memory serves Minardi still didn't test their full quota while I'm sure McLaren and Ferrari spent a hundred times the money a day at the track would have cost on simulation technologies so they could maximize every second available of a test.
IMHO the only way it is going to cost less to compete in F-1 is if the top teams have less money to compete with. Until that day the rich are going to get richer and the poor are going to get poorer.
Either that or a claimer rule, but that is never going to happen for a number of technical, safety and legal reasons let alone the practical aspects of getting the top teams to agree to such a thing. Can you imagine if Minardi or Jordan had been allowed to purchase at the end of the season a Ferrari or McLaren? "Oh by the way, can you also provide us with some technical information, like a user's manual and operating instructions?"
The next couple of years are going to be very interesting as all of these things get sorted out ...
Thomas