I imagine Mercedes were planning on racking up a chunk of points before RBR sorted it out, ...
I suspect they will achieve this (ie. a points lead before the Summer).
The question is: how many points will they rack up before RBR give Vettel a car to dominate the opposition?
Also, lets not forget that Merc dont have great reliability - last week one of their cars was broken in the opening laps.
For the record, my own title favourite for this year is Vettel. He is the most ruthless competitor in F1 and RBR will not rest until they have the best car on the grid.
(un-confident) prediction:
1. Hamilton
2. Vettel
3. Alonso (or 1 of the McLarens)