Regulations for 2012 when I run the FIA:
Tires will be of the following compounds:
Sticky cheese, warm bubble gum, molasses. Each compound will provide varying degrees of epic grip but for not very long, hard tire might last half distance, soft tire might last a quarter distance.
Top 10 qualifiers will have to start on qualifying tires, but there is no mandatory pit stop rule. 11th and below can run a 0-stop strategy if they want (but they probably won’t)
All tracks will be surfaced with whatever covers the Circuit Gilles Villeneuve.
All tarmac runoff areas will be replaced with water traps. All chicanes will be bordered with water barrels.
To keep costs down, there will be a voluntary budget cap of $75 million. However, each team must sell its car for $75 million if another team offers to buy it if it is suspected of spending more than the allotted $75 million. (second thoughts on this one. it works in amateur racing, but F1 is a different animal).
Team orders will be allowed but if the fans boo the podium and there is a major international media uproar in at least five countries afterwards, the driver ordered to move scores both his points and the points of the team order beneficiary and the beneficiary scores nothing.