Personally, I think the FIA should standardise engines and give out the engines to the teams. The teams then tune the engines themselves (without adding parts) and bring them to race day. I don't mean tuning as in altering gear ratios, I mean as in oldschool tuning: Engine timings, ECU, Fuel pressure etc.
Ferrari are (unfortunately) the king of fast engines for F1. Mclaren follow shortly behind. One team with a superior engine (oh, what a surprise - superior powers under FIA...) is not fair for the likes of Force India, Super Aguri etc who don't have the funding to fully test different types/configurations of engine.
Also, whatever happend to front wing/rear wing downforce. None of this Shark Fin crap. I do believe that the FIA should reincorporate the old F1 rules and style. Today, F1 is just about who has the most advanced technology, not who has the best driver.
/rant over