OK, you all may find me sad but: I had a look at a copy of the Bad Boys II car chase downloaded from YouTube as I was sure it was a 550. Interestingly, it IS a 550, but with 575 headlights!!
Attached are a couple of screen dumps that show clearly it is a 550 (see interior, the rims, and the nose section with fog lights) but also a shot where you can see the head lights clearly: those are 575.
I think Ferrari wanted to pass it off as a new 575 which was about to come out when the movie was released. I read somewhere on a forum it was a 1998 550.
BTW, I agree that the sound is not from a 550, except right at the end of the scene when he pulls up after a complete stop - that sounds remarkably like my car.
OK - Anorak Onno has spoken!
Onno
P.S. The 550 Ferrari site link doesn't work, anybody else have that problem?