Codemasters have announced that they are making F1 2012, with a target release date of September 2012. I personally am really excited about this, as I have played both F1 2010 and F1 2011 nearly every other day since they have been out.
Things I would like to see are the introduction of Brake Bias controls, more advanced race replay functions (similar to Forza Motorsport where you can save replays to hard drive), warm up laps, and a podium cut scene. Would also like to see open online practice sessions where players can 'drop in' and 'drop out' of the garages as they wish!
There are strong sources saying that the new Austin Track for the US Grand Prix will be included aswell.
Announcement video -