At the foot of what could be the most exciting Formula 1 season yet, ESPN commentator and F1 expert Steve Slater shares an insightful pre-Australia GP rundown.

Forget that there is less than a week to go before the opening round of the 2012 Formula One season in Australia. Last weekend was equally critical for all the teams.

By this is then all the cars, parts and pitlane equipment had to be packed and on the plane to Melbourne. That in turn, meant that the cars' main specifications are now settled not just for the opening race, but for the Malaysian Grand Prix a week later too.

Of course there will be the inevitable late modifications, flown out as personal baggage by team members. The baggage carousels at Melbourne's Tullamarine airport during Grand Prix week always resemble a Formula One car boot sale.

However history records that if car is fast after the final winter tests in Spain, it is a likely winner. If it is not, then it will take time to catch up.