update 10/12/2008: "Petronas and Formula One" - the view of a motorsport fan and professional motoring writer, here.
Ditch the Formula 1. I'm not an F1 fan so Honda's decision to withdraw from the costly affair (Citing economic crisis, Honda withdraws from F1 - USA Today) doesn't make a difference to me. But it should make hell of a difference to Hassan Merican, the Petronas boss. If Honda thinks the economic slowdown is bad enough for it to pull out from F1, why should our national oil corporation continue to spend hundreds of millions of dollars on it?
It won't be such a great thing to win the races without the Honda team, anyway.
So, Petronas, do the right thing.
Read also Bernie Eccelestone's interview here. Honda Racing F1 team reacts to withdrawal news, here.