I think the cars look nice without all the aerodynamic widget guff. Have to admit the wider, lower rear wing looked better, but I don't see anything that makes me vomit, which I think is a fair barometer of coolness.
I must say, apart from the rear wing, that Ferrari looks like it's going back at least 5 years into the past. However, the rear wing makes it look like a jump into a very silly future.
Many people saying "it doesn't look so bad anymore", well the angle is a bit favourable and proportion compared to rest of the car is less visible... than in this one, which is old one from the earlier tests, only rear wing is 2009 spec:
Also some unofficial rendering of "generic F1 2009 car":