Personally, I'm not overly concerned.
I really do believe that they'll make a step up and be able to challenge the powerhouses. And I also believe the collective bandwagon jumping is premature.
For me, as a fan of the team, I will be satisfied with a win on merit. Once that has been achieved, I will consider the season a success.
And I think it's possible. Daimler has had some more input into the car (tyre sim technology IIRC) and the team just seems more organised and methodical.
I believe with the current package, the team is only really concerned with the mechanical aspects such as reliability, suspesion and tyre behaviour as this was their weakness last year and they seem determined not to make the same mistakes. The aero on the car seems very straight forward and plain and is a sure sign more is to come.
I also believe the pretty bad (let's be honest) reliability skewed the picture somewhat. Let's not forget that on the two days in which the car ran well, Michael did pretty good times.
Yeah, the dropoff was quite nasty, but I do believe that can be ironed out with some decent setup work and tyre choices.
What I don't like much is Ross Brawn initially saying that at the new spec will arrive at tests 3 and 4. And now he's saying it will be available at Bahrain. Whether he means the test at Bahrain or the first race, I don't know. He said in his latest interview that the spec has recently been finalised, so I guess it's reasonable to assume he means the Bahrain test. But perhaps they found a few shortcomings and want to gives themselves the extra time to do a proper job at mending them and not do a quick and nasty botch job, in which case I'm all for it.
My hope for the Barca test however, is for them to do many laps which are consistent. If it's not awefully fast laps, I wouldn't mind that much, as long as it's not dead slow ones. Also, I would hope for them that the results match the models.