The gist of the conversation was that whilst currently an expensive area of development, the application of this tech is going to have a huge effect on F1, and is already filtering into the sport for a few years now.
He pointed me to a couple of excellent article's which I think would be useful to start the thread, as it will be relevant to F1.
Here is an excerpt:
http://www.airforce-technology.com/feat ... ature91197Wings made from such materials, which can 'feel' changes in pressure or temperature, or transform from liquid to solid when a magnetic field or electric current is applied to them, could unfurl, bend and shape themselves on-the-fly to adapt to evolving demands. Their appeal is clear.
Then we have the heat dissipating properties of carbon nano-tubes, which potentially can be transferred to any area of the car at a whim.
This, in conjunction with the material being able to monitor every square inch of the car on the fly and record the data in real time.
I was given a video for this, but there are currently a few aeronautical papers out there explaining this in great detail.
I've supplied a Wiki link to go with the vid.
Forward to 1:35
[youtube]http://www.youtube.com/watch?v=nRMiQRiK5GY[/youtube]
http://en.wikipedia.org/wiki/Buckypaper