Dirk, why is the VW/Audi ownership a scary proposition? These companies (Bugatti, Lambo, etc...) have progressed forward in an unbelieveable rate and are in the best shape ever. They have resources avaliable at any time and can develop their cars like never before. To me, the Murcielago is the best Lambo to ever come out of Sant'Agata, period. In style, engineering and quality. Lambo has been on their death-bed since the '70's and have barely survived from corporations that mearly prostituted the company, just to have the name in their portfolio. This is the re-birth of the company and the future looks great for them. I think they would be smart enough not to mess with any of the aspects of Ferrari and just supply the needed cash when Ferrari asks for it.
As for your questions Andrew, they have one of the most expensive racing budgets of any team, in any motorsport. Fiat is their sugar-daddy, so no money, no racing. They could survive just building cars, but they wouldn't be able to support F1 (maybe they could get back into GT car racing full-time. I'd like that better, I could care less about F1). And for ownership, (no offense) I'd rather it be in a European company, than in an American one...