Nononnono.. Dude... Please... I think you may have misunderstood me..
Ferrari will obviously still be powered by there own engines, likewise the Mac and Merc, BMW, Renault, Honda, Toyota ect ect... I'm thinking more for team the likes of Red Bull, Toro Rosso, Williams, Farce India (for 2009/2010, Prodrive maybe?), they could be provided from a selection of 2 or 3 different engine suppliers, tendered by the FIA of course, to supply engines (Yamaha/Audi/Porsche/VW/Lambo/Supertec/Cosworth/Peugeot) to ANY of these teams for say, 7m, 8m or even less (6m maybe??). In order to even up the field (only a little), the non works/manufacturer motors could be mandated to serve only 2 race meets as opposed to 3, or as I said before, maybe they can have 2 jokers instead of just 1.
So yeah, you could see William - Cosworth, Red Bull - Porsche, Toro Rosso - Lamborghini, Farce India - Yamaha.. ect ect...
As I said, bring on more tyre suppliers, and have alongside the WDC and WCC, there could also be a tyre suppliers championship/award and an engine supplier championship/award...