There's no way we can we build a car as good as Ferrari's or McLaren's

Eddie Irvine

Irvine reveals Jaguar's R3

"Handford is unproven in Formula One, as was Adrian Newey - and they both came from an Indy Car background," he said.

"But the weight of the car has been massively reduced. Last year's car was incredibly heavy.

"We'll just have to wait and see just how good this car is. It's all about how fast it gets from the starting line and back again.

"We got nine points last season - we have the potential to double that this year."

That was about as much as Jaguar were prepared to give away as far as targets for the season are concerned.

The R3 was finally unveiled following some rather tight-lipped commentary from the technical team responsible for it.

They all agreed that the objective was to improve on last year, but were careful not to make any promises they may not deliver.

And just as they had given little away, so did the "new" car - indeed, it could have been the R2 re-painted, apart from a slightly remodelled and raised nose.

Perhaps a harsh assessment, but Jaguar Racing's technical director, Steve Nichols, admitted the changes are not massive.

Lauda is the Team Principal of Jaguar Racing

Jaguar's launch was a slick affair, complete with glamorous hosts on hand to ply guests with various liquids and other sustenance.

But for all the gloss, there seemed to be something missing - a car to challenge for the drivers' championship - and everyone knew it.

Irivine and De la Rosa strutted around in their race suits, and the Jaguar racing green was heavily in attendance elsewhere.

Traditionally the colour is associated with jealousy, but it is unlikely that Jaguar's competitors are green with envy.

In the hospitality room, two impressive ice-carvings of the Jaguar logo began to melt.

Rather symbolically, it was reminiscent of how the R2 had withered in the heat of last season's competition.

We will soon find out how its successor fares.