"It has to rank right up there as one of New Zealand's best knocks. With the conditions, the match situation, one of the best."
Taylor is 15 short of 250, a mark only reached by five players - Stephen Fleming twice, Glenn Turner, Bryan Young, captain Brendon McCullum and Martin Crowe.
New Zealand will start today on 510 for six, 49 behind Australia and looking for more runs in an important first session.
"We had to do a lot of work to get close to parity after day one. If we can eke out as many runs as we can the game will develop from there," McMillan said.
"Batting will become more challenging over the next two days."
Kane Williamson, who contributed a fine 166, and shared a record-setting stand of 265, New Zealand's best against Australia for any wicket, was also complimentary about the senior batsman's performance.
"I know it's a tough ask but hopefully he can keep going a bit tomorrow. But certainly it's been an absolutely fantastic innings so far," he said.
"I thought he was really calm out there. He just went about his work in a reasonably aggressive way, and that's when he bats at his best, I think."
New Zealand batsmen with two or more test double centuries:
4: Brendon McCullum
3: Stephen Fleming
2: Glenn Turner, Mathew Sinclair, Ross Taylor
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