The flexibility of technical regulations accorded the capped teams is part of the issue. Patrick Head of Williams F1 said that the adjustable rear wing would be worth up to two seconds a lap, and non-capped teams couldn't make that up anywhere else no matter how much they spent. But if the big teams were to choose caps, there would be huge personnel issues in order to get down to a £40 million budget.
Ferrari head Luca de Montezemolo has made noises about not continuing, but the team has conspicuously had no official comment on the entire situation. Teams like McLaren and Williams, and drivers, have also spoken against next year's regulations. The teams are scheduled to meet with Max Mosley before the Monaco Grand Prix in two weeks time. Hat tip to Jarrett