Add the olive oil to a large nonstick saute pan, and warm over medium-high heat. Add the pancetta, and cook, stirring frequently, for about 6 minutes, until golden brown all over.
Turn off the heat, and use a slotted spoon to remove the pancetta from the pan and onto a plate to cool and crisp.
Keep the drippings in the pan, and warm over medium heat. Add the onion, garlic, and red pepper flakes and cook, stirring often, for another 6 minutes or so, until the onions are tender and just starting to turn golden. If the garlic seems to be cooking too fast or on the verge of burning, turn down the heat as needed.
When the onions are done, add the chardonnay and cook for two minutes to let some of the wine cook off.
Add the pancetta and any accumulated juice back to the pan. Stir to combine with the wine and onion mixture.
Next, add the crushed tomatoes, bay leaf, salt, and pepper. Stir well to combine. Bring to a boil, then reduce the heat to a simmer. Cover, and let simmer for 30 minutes, stirring every 5 minutes or so to prevent burning or sticking.
Meanwhile, bring a large pot of salted water to a boil. When there's about 10 minutes left on the pasta sauce, add the bucatini to the large pot of boiling water and cook according to package directions until just al dente, about 9 minutes. Reserve 1 cup of cooking water before draining, then drain the pasta.
Add the pasta to to pan with the tomato sauce, and toss to coat. Add 1/2 cup of the cooking water to thin the sauce a bit, and continue to toss the pasta to coat. Increase the heat to medium, and cook for a few more minutes, tossing the noodles in the sause, letting it thicken and nicely coat each noodle.
Once the sauce is thick and evenly coating the pasta, turn off the heat and serve the pasta into bowls. Top generously with grated Romano cheese, freshly cracked salt and pepper, and a sprinkle of fresh parsley.