The more I think about this, the more it makes sense.
Firstly, there is Peugeots refusal to give the 908s to privateers. Why? Well, France expects! The French press hammered Peugeot every time it failed to win Le Mans. Now if the factory couldn't win with the 908, with a huge budget, a huge number of staff, and Michelin working all out to win, then whatchance is there of a smaller team winning? There would still be high expectation and ultimately as much dissapointment and bad press. To the average Frenchman draped in onions, cycling along in his Breton shirt, a Peugeot is still a Peugoet no matter the team running it.
Now, if those engines do find their way into the back of a car, they can continue to develop them. An engine programe is much cheaper than a full car programe. If they do come back in 2004/05 then they won't be starting from scratch even if they do take the hybrid route.
Most importantly, if the car fails to win Le Mans they can hold their hands up and say the engine is good, the team or the chassis or the drivers were not good enough. If by a freak of nature they win, well Peugeot engines are the best, Vive Le France!
Anyone fancy a tenner on their being a Diesel Peugeot engine on the grid in June? I'm convinced it will happen.