Hmmm...well, the deadline's tomorrow and nothing looks like it's going to happen yet in terms of the five joining. I would be interested to see what happens if they don't join - if all eight FOTA teams pull out as a result, and don't re-join then...well, it looks like there very well might be a rival championship.
In the case of this rival championship appearing, I wonder what the calendar will look like. I don't know what the situation is with the FIA and how far they can go to block races from being held at circuits that F1 would be going to, but the FOTA championship might end up having to go to considerably more random circuits (although that might be for the better - personally, I'd love to see Silverstone, Montreal, Imola and others make an appearance).
So...yeah. Should be very interesting to see what happens tomorrow. The only deal so far on the table is upping the budget cap to 100 million for 2010 and then down to 45 million in 2011.