It could well be that in 2008, we're going to see a two-car grid.
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First, the Concorde Agreement is one of the main reasons for the formation of the GPWC. Team and circuit owners have been locked in with FOM, and they're tired of being dictated to by Bernie and his stool pigeon Max.
Second, after Ferrari refused to come aboard with the proposed cost-cutting measures last year, they'd already gotten themselves offside with the other teams anyway. IF the GPWC offers the other teams an opportunity to run the sport without Ferrari throwing spanners in the works, all the better.
Third, a lot of people, participants and fans alike, are getting seriously bored with Ferrari's domination. The GPWC would have its own draw to the fans since you might just get real racing back again. On top of that, without Max's stupid ideas being dictatorially implemented, we would probably be able to finally get away from high-speed processions and have some real dicing on the track.
Fourth, Bernie's got troubles of his own, what with the courts ruling that he's got no business talking over the banks that are the majority shareholders in FOM. If the GPWC goes ahead, the banks are likely to pull out, leaving his billion-dollar briefcase full of contracts worth only its resale value as a plain briefcase.
Bernie got to where he is through the dissention of team and circuit owners. If he's not careful, he's going to be knocked off his throne in that exact same way.