Team New Zealand's outstanding composure has them ranked as No. 1 alongside Oracle. Photo / Photosport - Riccardo Pinto
The Sailing Professor Mark Orams' power rankings, going into the second round robin of America's Cup qualifiers.
The defender looks strong and competitive in all conditions, while remembering that they didn't sail on day three. They are able to stage comebacks when trailing better than any other team at present - their decision making and strategy on the race track is impressive.
Jimmy Spithill and Tom Slingsby are clearly working really hard off the water, to create a 'play-book' for a wide range of race scenarios. Given the Oracle backing, they probably have a simulation software tool that allows them to practice scenarios over and over so they are never seeing a situation for the first time.
It is also clear they are using the qualifying series to test ideas and experiment with new equipment. Their use of non-matching foils is a prime example of testing different gear in different conditions, judging the relative merits.
Another example is their experimentation with grinding configurations as they try to negate Team New Zealand's advantage in generating hydraulic pressure with their cyclors.
Oracle had a bike retro-fitted to the back of their yacht and Slingsby jumps onto this during certain manoeuvres instead of grinding from the traditional hand-powered pedestal further forward. I expect Oracle will fit more bikes to their yacht after they finish the qualifying series.
There is another interesting grinding change. Skipper Spithill jumps onto the grinder for about 30 seconds after a gybe for a big winding effort while Slingsby continues to steer post gibe completion, another example of Oracle adjusting to maximise hydraulic pressure. Smart innovation.
Oracle is playing the mind game. They needle opponents they see as a threat via Spithill, whose digs at Team New Zealand epitomise their competitiveness. Expect this to ramp up as they try to distract Team NZ from their focus on "making the boat go faster" to use a great Sir Peter Blake quote.
Overall: Solid team with the bigger picture in mind, and holding some things back. Playing smart, and using the qualifying series to continue development. Will take every opportunity to make life harder for their opposition.
Solid start to the regatta. Some tactical mistakes but improving quickly. Competitive in all conditions and especially strong in their manoeuvres, which are the best in the fleet.
Helmsman Peter Burling and TNZ are showing good composure and staying calm and focused on what matters - improvement in all aspects. Boat-speed very good in the lighter wind, but a 'work-on' is speed in the higher wind strengths.
Artemis is the form yacht in higher wind-strengths but Team NZ are not far off the pace.
TNZ seem to sail in a higher mode upwind (a closer angle towards the mark) than Artemis and tomorrow (when they race each other again) they may consider sailing a lower angle, and thus faster.
Using cyclors to power the hydraulics is a winner. While not a game breaker on its own, the additional input of hydraulic pressure gives New Zealand more adjustment and manoeuvre options. That said, the races are quite short, often less than 20 minutes, so the arm-grinder powered yachts are okay if the crew is fit and strong enough over the race distance.
Team NZ will likely be holding back some "kit" - but all teams are limited in new equipment. They are only permitted a total of four foils (and two matching spares). The main wing, hulls and the jibs (small triangular front sail) are identical on all boats.
Rudders, fairings and the "aero-package" offer potential for change. Aerodynamic and hydrodynamic drag is a big deal, so additional fairings or configurations to reduce drag could be an option.
The biggest positive for me is TNZ's composure, staying calm and focused on and off the water. It's a long regatta and this is vital.
A very talented sailing team and probably the fastest boat in strong wind conditions. But Artemis is not so competitive in lighter winds.
Their foils are very straight and long. Their straight line speed is great, but manoeuvres are a struggle sometimes as a result of their foil configuration. As more summer-like conditions prevail in Bermuda moving into June, wind strength will probably drop. Have they got light-air foils to reveal? This is unlikely - it would be a big call to bring out untested foils mid-regatta. Still a threat, especially if the wind is 13 knots-plus.
They are Oracle's training partner yet use a different foil package in this qualifying series.
Team Oracle USA are almost certainly using Japan to test additional foil options and provide shared data they will use. This is smart from Oracle; to partner a challenger with an experienced crew.
If Dean Barker's Japan are eliminated, Oracle will have a ready-made training partner. Japan are showing some good form but are not front row after the first round. They could end up with some good "kit" from Oracle in the semifinals, and make a big leap. The top-ranked qualifier chooses their semifinal opponent and if Japan is still in, the wise move would be to avoid them.
One will be going home after the next three days of racing. After day one, it was France missing out for all money. Their turnaround has been remarkable.
You have to ask how have they achieved what looked like the impossible. Initially, their yacht looked like a nightmare to sail. It was unstable and crashed off the foils, or nearly did, at every turn.
Suddenly their boat was flying stable and beat Artemis on day two. I put this down to better control at lower wind speeds and smart sailing in the unstable conditions. Yet day three had more wind than day one, and still the French were stable in flight and had less crashes off the foils than Ben Ainslie's boat, beating them comfortably.
This kind of turn-around does raises questions about how they have made such a dramatic improvement virtually overnight.
The points table doesn't properly reflect form because BAR would be last without the two points they carried into the Louis Vuitton qualifying series.
It's a real surprise to see Ben Ainslie under so much pressure. They had pace on day one, but the collision with Japan was a turning point leading to four straight losses. If anyone can mount a comeback it is an Ainslie-led team. The next two days are a worthy challenge for the world's most decorated Olympic sailor and his team.
It does not matter who is winning now. Continuing improvement is the main focus for every team. The team that eventually prevails will be the one that improves the most from this point onwards.
• Professor Mark Orams is a former Team New Zealand member, and AUT's Head of School - Sport and Recreation.