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What others are saying:

Fixed Rear wing - good idea, but only if it gets rid of those stupid grooved tyres. Man, do I miss the big rubber of the 70s, 80s and early 90s! 
2 way telemetry or even 1 way telemetry - good to see it go! 
Traction and launch control - I have always seen this as a joke. Let's race trains! And without drivers. Hate, loath, detest! 
ABS - I'm not too fussed about this, but would prefer to see it gone every 2nd year say. It has great application in the family sedan so it is relevant. 
The idea of 1 engine/tyre for all is a joke. This kills off both the international aspect of things and the openness of the competition. 
F1 to me has always represented the most open form of motorsport on the planet. Though it is heavily regulated, this is to stop things from becoming totally insane, not to suppress creativity - Bryon F - Australia

I couldn't agree more with the statements that both McLaren and Williams are making about these new rules. 
The FACT is: These rules represent a serious threat to safety in formula 1 and are also against the spirit of formula 1 and what it is 'suppose' to be - cutting edge technology developing it into the 'fastest' form of motorsport in the world. These rules will send the sport backwards. They are pathetic because I really don't know the reason 'why' these new rules have been introduced. The FIA are kidding themselves if they think these new rules will bring crowd-figures up again on television and at the track. I believe they have jumped-the-gun here. They have looked at season 2002 when Ferrari dominated and decided 'that' is why television audiences and track attendances were down - and have effectively penalised them and the rest of the f1 teams that are trying to catch up to them, because they, (the fia) think these new rules will mean an end to dominance by one single team - Matthew F - Australia

I think these new measures are absolutely pathetic. How stupid and immature are the FIA. For example, banning traction control is ridiculous because what it is doing is taking away (what I believe to be) an essential safety device in wet weather. Formula 1 is suppose to be the ' top level ' of motor racing, taking away technological advancements, evolution and progress I believe is going against what F1 is suppose to be about - the quest for perfection (and the F2002 was damn close to that) - Matthew F - Australia

Reducing cost? Hello. Let's take a moment here to consider what these idiots are doing: improving racing? No. Protecting "little" teams? No. Creating something they can sell? Yes. Protecting their (Bernie's and other bigwig's) investments? Yes. 
Suppose what they are claiming happens --and Minardi and Jaguar and Eddie Jordan drop out? Yes, there would be much grumbling and screaming and pointing of fingers. Yes, there would be a drop (substantial!) in the level of interest on the part of some fans (those not interested in seeing whether the French the Germans or the Japanese can figure out how to beat the Italians). For a year. maybe. then, without anyone having to raise a finger or write any regulations, it would suddenly be apparent to all of the major manufacturers that selling their technology under license would be a way to recoup some of their research expenditures. Look at Sauber, they'd be saying; how can it hurt Ferrari if every once in a while one of last year's engines beats one of this year's big red machines? it could even be exciting!
The notion, though, that F1 would become a Ferrari (or Williams or Mercedes or McLaren or Honda or Toyota) parade without these "cost cutting" measures is nonsense! It's time for new management. Didn't the big guys start thinking about their own sanctioning body a little while back? I think they'd better start holding their meetings again. 
I don't follow F1 because I think their sanctioning body (or even their bloody awful video production!!) is doing an excellent job. I follow it because people like Ross Brawn and Frank Williams would rather die than lose a race. So they spend every waking minute and every bloody penny they can steal or borrow to make their cars go faster than anyone else's. Drivers? yes, I like drivers. but I don't care about their politics or their looks or their family values or any of that other hokum. remember when Eddie was driving Ferraris? and almost won the title? was that because he's such a fabulous driver relative to any six or eight others? No. What do you think Jacques last four or five campaigns tells you about drivers? You can put the world's greatest driver in one of those bloody Jags the Austrian was trying to tell us all were almost "sorted out" and maybe. maybe. he'd beat the Renaults. not the Saubers. not the Macs. not the Williams. 
I don't know why I'm sitting over here in Indiana knocking myself out teaching English. I could be a bloody F.I.A. official and have a posh apartment in the south of France and run up and down the paddock at all the F1 races making an ass of myself by proposing rules to enhance racing!! I mean it seriously, my main rule would be keeping the scorekeepers busy keeping score and the time keepers busy keeping time. Wait a minute. I've got a better idea: I'd ban all television producers from within 100 km. of any circuit. Only cameramen would be allowed on site --and only to record the race and relay the images to fans. How do you get this bloody job anyway??!! - Jim W - USA

Sad to say; very contradictory!... Alberto R - Paraguay

Talk about going from an extreme to another..... its too much, a lot of what we see in our everyday cars comes from the F1 experimentations. Changes were needed, but this is dum. That is not the spirit of F1, no more than the 2002 rules were... its worse actually. I for one was more interested in the progress of all the teams than following any particular favorite. I agree that costs must be reduced, that computers drove the cars too much and thus at least eliminate the bi-directional telemetry and let the driver manage his race, but now with those new rules, might as well have everyone drive the same car and bye bye innovations. I agree 100% with Joe's comments - Marc - Canada

I really think this is just going much too far. If it is to save the small teams ok! let the big teams help them with lower cost engines and some other technical help plus other things, But to go in this direction is in my opinion wrong. I like many diehard fans follow F1 for it is the pinnacle of Automobile technology. Take that away why should I or any one else spend that big money and time following it. To make away from two-way telemetry I say ok because after all it's up to the derivers and not a monkey or a guru in the pits to change something on the car that makes them win. Two way radio must stay for many obvious reasons. 
If all of this is really to happen what do they hope to achieve having all the same cars ? Well that is not what I want to see. Then if so who will win ? Michael of course, he is so much better then every one with the exception of maybe Villeneuve. So I really do not like this at all. 
No spare car ok lets say we want a good show, well then we want the drivers all out to make the best times no! but by doing this he is on the edge and looses the car and destroys it what now no spare car! so they pack up and go home? Once again stupid, the only thing that they will achieve is less of a show thus less viewers yet again. Is it me or can they not see this. I can go on a lot more but I think you get the point - Joe - Canada