Delphi GM's biggest problem?

I was wondering how much of a threat is Delphi to GM's future? Given that Delphi's rescue plan is in tatters and that they appear to be out of cash then surely they are only just managing to avoid chapter 7. If Delphi does end up in Ch7 then where does that leave GM? How much money will GM have to burn through to effectively buy back all the bits it need? I personally think GM could scrape through to 2010 as long as Dehlpi doesn't go under. But does anyone thing Delphi can avoid Ch7?