If we look back at what history tells us, surprisingly, no, the engines will not be a game changer. The new engines will not make a huge difference in 2006, when the engines changed to V8s, the same person won who had won the last year, Fernando Alonso. And back in 1995 and 96, it was the same, Schumacher won both years, with Damon Hill in second both times as well. You can even see in 2013 that engines aren't that important. For example, Marussia is beating Caterham even though Caterham has the same engine as the three-timeworld champion Red Bull team and Marussia is using the one hrt used last year.
It is generally agreed on that the performance of a car comes down to three main factors, the tires, the chassis, and the engine. Their effect on performance is 25%, 50%, and 25% respectively. (The driver's effect can't be quantified because technically he/she is 100% because if they don't use the gas, the car won't move, hence its performance us irrelevant.) So the engine gas the same effect as the tires. And one might argue that since tires are dictating this season's results, engines could very well do the same next year. However, the main reasons tires are so important are strategy and pit time, which aren't part of dealing with engines. Sure if the engine degrades too quickly and you run out then you get a penalty that is important, however if everyone gets a penalty then it doesnt really matter now does it?
Basically, my point is that engines are most likely not going to rearrange the grid that drastically, and while one engine might be faster, the performance of a formula one car is mainly down to chassis and driver.
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