Looks like an estate F1 car with the nasty shark fin, they had some problems at the Jerez test today, broke down and only completed 47 laps iirc and were the slowest apart from Virgin who only completed 5 laps themselves, although it rained all day after the first hour.
a) A car that builds on an already-fast design, or
b) A completely new idea that has quite a chance of failing miserably?
Red Bull have gone for an evolution rather than a revolution, and frankly, I don't blame them. That said, let's not forget that Red Bull weren't exactly the speediest at the beginning of last year, and you can't expect them to be fast right off the mark. Some of the newer components of the design will have to be fine-tuned before the car becomes truly quick.