Is the 599 the last big V12 engine ?

IMO no

They might shrink it by 10% or so but I think they will find better mileage if that's what they want with technology. The 70's did not have the tech we have now. Aren't they doing direct injection or something like that now?

 

I would like to think not.

How could they completely do away with something that symbolizes the company?

I would love to see another rear seated V12, similar to the Testarossa come out again. Although pigs will have to fly.

 

Emphatically yes. Ferrari personnel have been saying for a long time they will continue with V12 models but that the displacement will be reduced... I doubt in the long run it would mean less power than today's engines considering the always improved methods of efficiency, but I would be in no doubt to their going down in size ultimately.

 

Maybe larger displacement and boosted 8 cylinder engines instead.

 

Lower weight and Lower Horsepower is what has been stated, the High Horsepower race in the production cars is coming to an end. I think you will see a lighter weight 430 Replacement, but not with a 5.4 Litre engine.