http://www.itv-f1.com/News_Article.aspx?PO_ID=41179
the top teams will be ok but those further down the grid look like they will have to stay there
Madness. In 10 years, new Toyota Corolla will have more powerful engine than Toyota F1... unless MM finds a way to freeze engine developments outside F1.

OK, so I'm exaggerating... but 10 years without engine development will certainly take F1 of the top of motor racing. Now... I haven't seen all the details, so forgive me for asking but... does that mean if any of strong teams end up with crappy engine in 2008 (like Mercedes had a few crappy ones in the last few years), they'll have that crappy engine for next 10 years..?
Will they freeze other developments as well? Will they freeze drivers as well..?

FA and LH in McLaren for 10 years..?

No, it's really stupid. What makes F1 fun for me is complete competition on all levels - on track, off track, on design boards, in factories... freezing anything will kill a part of F1 excitement. For me, at least.
You can have it in any colour - as long as it's black. Or red. Or blue. Or green. Or white. Or navy blue. Or...