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Ptolomy, yes Williams do run the flywheel KERS, Williams have in fact set up a subsidiary company 'Williams Hybrid Power' to further develop the system and sell it on. Their system is currently used by Audi in the R18 Etron Hybrid LMP1 car , also Porsche are using the Williams system in their GT3 R Hybrid Race Car where it apparently is able to provides an extra 163bhp. WHP have also been contracted to develop a system for buses.
Also there are reports that the sytem could find it's way into all roadgoing 911's. All that sort of makes the technology extremely relevant and something that F1 and it's followers should be proud of instead of rubishing it.