F1 future...

From what I heard there has been a lot of speculation that other F1 manufactures are threatening to start up a rival racing series in 2008. Though I doubt that this rival series will ever exist, I still am questioning whether F1 will be around past 07' (at least with Ferrari and other manufactures competing in it). Does anybody know anything else about this? I couldn't honestly see F1 disappearing, but humors as such need to be addressed. And if so, what are the possibilities as far as replacing F1 (if any)?

This is in fact, old news(as in years) and becoming a lot closer to reality now than ever.
The FIA's constant tampering and interfering with the rules to make the series 'competitive' is in fact having a very negative effect on the sport as a whole.