Please see the most recent updates in the "Where did the .com name go?" thread. Posts number 16 and 17.
Apparently quite a few hurdles to be taken, like how to handle Palmer's contract, McLaren would have to supply STR with a gearbox as Honda only builds the engine, and it seems Honda are not willing to pay STR as much as they are paying Mclaren right now (Estimated at about 100 million each year!).
More rumours for the future: http://www.motorsportmagazine.com/opinion/f1/porsche-poised-red-bull-buyout
