1. Red Bull showed that they can run a reliable car at least part of the time, and you can't do better than a 1-2.
2. Mark Webber lost the race at the first corner. Knowing him, he will be pissed off.
3. Not only is Michael Schumacher currently looking ordinary as a driver, but his team is looking ordinary at car preparation. Retiring with a loose wheel nut is not the sort of thing a 7 time WDC is going to find impressive...It is my belief that Michael will retire at the end of the season, if not before. Part of the challenge for Michael is that he has been retired for 3 years, and in that time the drivers forgot all about the "Schumacher Effect". Now they see him in their mirrors and think "hmm it's a Mercedes" not "oh no it's Schumacher..."
4. Fernando Alonso may have performed the best feat of driving around a car problem since Michael Schumacher's famous podium drive in a Benetton that only had one gear. He could not take the right lines through slow corners because of his downshift issue, yet he still was fast and competitive until his engine failed.
5. Ferrari may yet run into the same issues as Red Bull did in 2009 with engine limits. Stefano Domenicali has admitted since the race that Ferrari has reliability issues; both Saubers also suffered from engine problems at the weekend. Alonso's engine from Sepang is presumably no longer usable, which makes 3 engines used already. The FIA Technical Delegate report shows that both Ferrari drivers are at the bottom of the engine use league table with 3 engines used each (although engines usually have to do at least 2 races each, with some doing 3). Let's hope that we don't see Alonso curtailing running and using "old" engines later in the year.
6. Both HRT cars made it to the finish, and even beat one of the Lotus cars. Geoff Willis has been saying not-very-complimentary things this week about the build quality of the car, but to have both cars finish is a big step for the team. The big question now is whether Dallara, having built a slow car, wants to work with HRT (and presumably Willis) to make it a lot quicker.
7. Not many spectators in the circuit overall at Sepang. That is a magnificent circuit, but selling F1 in emerging countries is always going to founder on the reality that the folks in the street have neither the time nor the money to patronise race circuits.
8. Lewis Hamilton can drive the wheels off a car when he has to.
9. Williams looked very slow today, according to both drivers and the stopwatch. That car needs an upgrade - and fast.
10. Apart from the removal of outboard mirrors because it became obvious that designers were using them as an aero device, the teams are apparently going to meet again to discuss how to improve "the show". A pity that the idea of a really hard race tyre is not on the agenda, but apparently the return of KERS is to be discussed. I have to assume that a standard KERS unit will be proposed, otherwise we will see the cost base rise again, which conflicts with the "cost cap" script of a year ago, and may send one or two of the new teams running for the exit.

The real challenge in all discussions about regulations is that they will be dominated by designers and engineers from the teams, who have pre-conceived ideas about concepts, and also need Something To Do. I am starting to think that the FIA needs to cut back on the "consultation" and form a wider-scope working group like the OWG and, if necessary, buy a couple of older cars from the teams (or borrow a GP2 car or two) and test new concepts. Then the FIA should simply define the new regulations and start the clock on their implementation. They did this in 1982 when they abolished underwing tunnels, ending the "ground effect" era, and while the teams complained at the time, they soon adapted. The FIA also needs to remember that any piddling target like a 50% reduction in downforce will be insufficient. Teams are extremely resourceful when it comes to aero. The OWG should have aimed for an 80% cut in downforce.