There will be most certainly more defections from F1. I don't believe Ferrari could stomach racing with another engine not their own. Rumors are flying around the F1 forums that Ferrari, Renault, Mercedes and Toyota are looking at possibly starting their own series or (unbelievably) trying to buy into IRL. I do know that the teams are already unhappy about no North American races, losing Monza, and Silverstone, all the addes races in the Middle East and Asia with non-descript, boring tracks.