Traction Control banned in F1 from 2008
FIA banned the usage of traction controls from 2008. Traction controls have long been criticized for reducing the dependence on driver skill and making it much easier to drive. In 2001 traction controls were reallowed after reports of cheating started pouring in about Traction control usage by top teams. But now all such systems have been explicitly banned. Teams will be forced to use standard ECU units produced by Microsoft.
Officially
“No car may be equipped with a system or device which is capable of preventing the driven wheels from spinning under power or of compensating for excessive throttle demand by the driver.
“Any device or system which notifies the driver of the onset of wheel spin is not permitted.”
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or 

September 14th, 2007 07:32
If Microsoft makes the ECU’s we can look to a much more entertaining season full of crashes and blowouts.
At least that’s something to look forward to now.