Autosport captured an interesting shot at Monaco:
http://www.autosport.com/gallery/photo.php/id/129296
Presumably that units pictured is the KERS battery pack; perhaps there is a second at the other side of the car, on the othersidepod. But, the early comments were that Ferrari's location was under the fual tank which both compromised the tank capacity and also compromised the center of gravity when removed. It looks like the McLaren/Merc unit has better placement and possibly weight distribution potential as well (that part of the sidepod
looks to be forward of where the fuel cell would be and main compromise cited with KERS is not being able to get enough weight distribution towards the front of the car). This could be why McLaren have used it at all races, because the compromise that the other teams have seen with KERS just isn't there with their system.