Last year's Formula One season had it all.

But, this does not mean that the 2008 season, which begins on Sunday at the Australian Grand Prix in Melbourne, will be any less gripping.

Key drivers and personnel have moved to different teams, technical regulations have been changed and there are two new street-track venues, one in Valencia and the other in Singapore featuring the sport's first night race.

Even by the standards of some of the greatest and longest-established races on the calendar, Singapore promises to be a high-octane experience with a mood and ambience to match European classics such as Monte Carlo and Monza, reported The Guardian.

Kimi Raikkonen and Ferrari are the world champions, but what are their chances of retaining both titles?

Having come so close in his rookie season, can Lewis Hamilton, who lost the drivers' crown by a single point after two disastrous mistakes in the last two races, go one better?

Testing times have indicated one thing - another epic battle looms.

Ferrari appear to have a tiny 0.1sec advantage over McLaren. But that is expected to narrow.

Raikkonen may be the logical favourite. The Ferrari F2008 seems more driver-friendly than its rivals, and with a championship under his belt, the Finn seems happy, fast and motivated.

But he was out of the title race for most of the season until he roared back from 17 points down with two races remaining.

However, Hamilton, who still has one more chance to become the sport's youngest champion at 23, is hungrier.

'I know what I want,' declared the Briton, after a season in which McLaren were slapped with a record US$100 million (S$140 million) fine and stripped of the constructors' championship, effectively for cheating, after being caught illegally possessing Ferrari documents.

It does not end there.

Felipe Massa, after swallowing his pride at his home GP in Brazil last season and moving aside to make sure his teammate Raikkonen lifted the world championship, is looking to raise his game and challenge the Finn.

At McLaren, the talented Heikki Kovalainen, who has been very quick in testing, may just decide to do to Hamilton what Hamilton did to Fernando Alonso last year.

Then there is Alonso, the two-time champion now back with Renault after a chastening experience alongside Hamilton.

While the French team have not consistently shown the speed to challenge Ferrari and McLaren in testing, Red Bull driver Mark Webber believes Alonso and Hamilton are more likely to clash on the track now that they are no longer teammates.

'There was plenty of spice last year, but I think it could be more fiery this season,' he told the BBC.

'It could actually get nastier because the gloves are off as the players are in different teams. Alonso won't win the war, but some of the battles could get juicy.'

F1 ringmaster Bernie Ecclestone added: 'I just hope that Fernando's car is as fast as Lewis', so we can see some real competition.'

Even the battle for third will be heated.

That was the preserve of BMW Sauber last season, but Williams have looked very strong in testing.

Then there is Renault, which can once again draw on Alonso's talent, experience and drive.

Red Bull, with veterans David Coulthard and Webber on board, could also spring a surprise.

Lower down the order, Honda, with tactical genius Ross Brawn on board, will be doing all they can to stay ahead of Force India - the former Spyker team owned by flamboyant Indian billionaire Vijay Mallya - and fellow-Japanese outfit Super Aguri.

The rule changes, involving the reduced importance of electronic and driver aids, have also set off whispers of more scandal to come.

Indeed, the new rules will create more interesting racing from start to chequered flag, as driver skill and stamina will play a greater role.

In recent years, at the start of a race, drivers simply pressed a button and the car would launch into action. The team with the best launch software would have the best starts. Now, a driver's reaction time will be the key to success.

'The starts will be quite open,' noted Alonso. 'Before, if you did a bad start, you would lose one place, two places.

'Now, if you do a bad start and you have too much wheel spin, then maybe you'll lose five or six places.'

Kazuki Nakajima, the Williams driver, also said the new rules allow for more overtaking in races.

But, with electronic driver aids outlawed, the sport becomes a perfect theatre for scandalous accusations, as it did the last time electronic aids were outlawed, in 1994.

After testing in January, Jarno Trulli, a driver with Toyota, noted: 'I think that some teams have already found a way to automate the starting procedure and reduce to the minimum the chance of spinning the wheels under acceleration.'

Get set for more entertainment then, both on and off the track.

INTERNATIONAL HERALD TRIBUNE, REUTERS