I've never heard about the costs of the WRC license, although i've heard that the F1 license has an insane cost.
As far as the Ferrari's go, I was just talking about the possibility of them only considering development if they could get away without pay for the license. It seems like the best route for them to be honest. That would allow them to make the game and not have to worry about pulling it whenever the license eventually expires. They obviously don't develop racing games in the numbers that they once did, so expensive car licenses will eventually go to waste for them.
There are still a number of arcade racers being released in Japan. NAMCO is going to released the next Wangan Midnight in March
http://www.youtube.com/watch?v=3JUetX95b2A
And Sega continually releases new Initial D games
http://www.youtube.com/watch?v=AavS8g6FnuU