Meanwhile, the BBC have announced their F1 coverage details for 2012:
http://news.bbc.co.uk/sport1/hi/formula_one/15893254.stm
The key points:

The BBC's 10 live races will include the British, Monaco and season-ending Brazilian Grand Prix. The BBC's first live race will be in China - the third race of the season.

The BBC's live races will follow the same format as previous races - including all practice sessions, Red Button forum and BBC Three highlights shows

For non-live European races, BBC One will show 75 minutes of qualifying highlights and 90 minutes of race highlights at around 5.30pm on Saturday and Sunday

For non-live Far East races, BBC One will show 75 minutes of qualifying highlights at 1.00pm on Saturday, and 120 minutes of race highlights at 2.00pm on Sunday.

All races presented from the circuit - live and highlights

Presentation team to be revealed 'at a later date'.
Interesting that the prime-time Grand Prix in Canada and the USA (if it goes ahead) are exclusively live on Sky. Presumably the BBC will show late-night highlights of these - not mentioned in the article.
The highlights programmes will put a decent dent in the early-evening line-up on BBC One.
And as expected, the Beeb have avoided the two Grand Prix which clash with the Olympics, meaning a big gap of 2 months between live races.