Mercedes

On paper, Mercedes looks an imposing force. Built around the title-winning Brawn squad, the team carries the hopes of the German car-maker as a constructor. It also provides the springboard for Michael Schumacher's return.

There are question marks, not only over whether the past three years have dulled Schumacher's edge, but also whether Ross Brawn will have the same freedom to make decisions in a more crowded management structure.

And that's before you consider whether Nico Rosberg can take the final step to become a legitimate frontrunner. But all of this only makes the team more fascinating to watch.