We'll get the turbo era kind of overtaking that so many that look back with rose tinted specs yearn after – ie the kind of overtaking resulting from a five second + per lap difference in car performance. Plus there will be a good amount of minor chaos resulting from inconsistency and poor reliability. Will indeed be just like the good old days. You can see why the top teams were happy to go with the idea of not being allowed to start the race on brand new tyres from the top ten places – they will just clear off into the distance anyway!
I do hope they can hit the ground running, but unfortunately I doubt it. USF1 not able to hit the ground at all! Does that mean they're flying, as per the Douglas Adams technique? Er – this metaphor is getting confusing.
Teams in order (just a guess):
Ferrari
RBR
McLaren
Merc
Williams
__
Sauber
Torro Rosso
Renault
Force India
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Lotus
Virgin
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HRT