I can't get all worked up about this. FIA rulings carry no real value in the public eye, I think. In 1996, Schumacher lost all his championship points, and finished the season dead last in the drivers championship. Is this what people recall? Similarly, nobody will forget that the McLarens were the better cars of the 2007 season. In my mind, the constructors championship is not that big a deal. The drivers championship is the one that matters. The constructors' is there to provide pseudo-suspense when the drivers race is over too early. Mercedes and Vodafone will have no shortage of good stories and images for their marketing campaigns from the 2007 season, especially if Lewis Hamilton can pull it off. As for the fine, I'm certain it will be reduced considerably after a couple of rounds with the lawyers, and McLaren sponsors will (more or less) gladly foot the bill as compensation for all this nice promo material they will get from Lewis' rookie season championship.
$100m sounds like a lot of money, and by any sensible standard, it is, but F1 isn't sensible. It's estimated that McLaren spent twice that last year just to build its engine. Also, the amount they will actually pay is going to be a lot lower than that, not least because the fine includes any prize money they would have won this season (in other words, they will only (!) be liable to pay about half the fine). As far as the publicity bodyblow goes, as qbert points out, they won't care too much as the rest of the world doesn't give much of a toss which team wins and is really only interested in which driver wins, and it looks like their bringing home a one-two in that competition this year, so sponsors won't mind too much I suspect. It's a massive fine, it's disproportionate to the crime (or what we know of the crime), but it's not as bad as it sounds at first.
According to the information that came out today, it may not be that disproportionate. Fernando Alonso knew McLaren F1 received Ferrari information over period of three months. McLaren apparently received data over three months that "concerned the Ferrari car's brakes, weight distribution, aerodynamic balance and tyre inflation." The FIA have released emails sent between reigning World Champion Fernando Alonso and McLaren test driver Pedro De la Rosa that shows that both knew the team were receiving, (and intending to use), Ferrari's information. De la Rosa asked Mike Coughlan, (the original employee of McLaren named in the spy "scandal"), "for specific details of Ferrari's braking system" and "the designer revealed to the test driver "we are looking at something similar"."