The engine:
The 052 is where the most prominent changes are for 2003. While the 051 was a refined 050 from 2001, the 052 is a completely new design. Ferrari struggled only with horsepower in 2002, the price of reliability. But with BMW, Mercedes, and the other major engine manufacturers pushing the boundaries of engine design, Ferrari cannot afford to run another 050-based engine.
The 052 sees a revised V-angle, a deviation of around two degrees wider than the 051. The concept here is simple... to lower the centre of gravity. However, as Renault proved with their large angle V, there is a point which you should not cross. Since the engine is a structural member of the car, it is imperative for an engine to resist twisting. The wider the V-angle, the less able an engine is to deal with these forces. Once even moderate deformation occurs, engine failure is imminent.
An all new pneumatic valve system has been designed, necessitated by the near 19,000 rpm qualifying-spec redline. Lighter valves, utilizing a higher pressure pneumatic system, thanks in part to new seals able to handle these higher pressures, will allow this to be the highest revving Ferrari engine yet. This is somewhere in the order of 200-300 rpm higher than the 051. The overall height of the pneumatic system has been decreased as well, allowing for the shorter cylinder heads.
There were concerns last year with oil delivery, particularly on high g-force turns. This has been addressed by an entirely new high-pressure oil feed system, as well as a new crankcase design, specifically aimed at reduced oil-pooling.
The transmission is based on the revolutionary unit used in the F2002, however it's already compact length has been further reduced for this year. The titanium construction is the same, with the emphasis placed on improving rigidity.