Three world records have already been set and the 100-meter freestyle final is still to come.
Swimming's signature race is living up to the hype.
In Wednesday's semifinals, the hulking Frenchman Alain Bernard and Australian sprint specialist Eamon Sullivan set one mark after another.
In the first heat, Bernard won in 47.20 seconds to knock down Sullivan's record of 47.24 from the leadoff leg of the memorable 400 free relay two days earlier. That record lasted all of two minutes. Sullivan won the second heat in 47.05, setting up a thrilling showdown in Thursday's final.
"Records don't mean much. They don't win medals at the end of the day, unfortunately," Sullivan said. "But it gives me confidence that I can swim my own race under pressure."
Pieter van den Hoogenband, attempting to become the first swimmer to win the event at three consecutive Olympics, qualified third in a personal-best 47.68
"This is a new period (in swimming), a whole new level, new swimsuits and a new generation. It's unbelievable," Van den Hoogenband said. "I'm happy to make the final for the fourth time in a row."
Can the Dutchman win? "No, I don't think so," Van den Hoogenband said matter of factly.
Van den Hoogenband held the world record of 47.84 for eight years before Bernard bettered it twice in one day at the European Championships in March.
"It's a high-level competition," Bernard said. "The most important is the final tomorrow."
Two-time world champion Filippo Magnini of Italy and Brent Hayden of Canada, the silver medalist at last year's worlds, failed to qualify for the final, finishing ninth and 11th, respectively.
"There's a whole bunch of reasons why it happened, but basically it came down to the fact I wasn't fast enough," Hayden said.
Sullivan, seeking his first major victory, is the favorite.
"He's fast, but not unbeatable," said the fifth-placed qualifier, Stefan Nystrand of Sweden. "Anything can happen tomorrow."
