Australian tennis legend Rod Laver has dropped his two cents on the future of the big three on the eve of one of another blockbuster Aussie Open final.

Tonight's 2012 rematch between Novak Djokovic and Rafael Nadal paints another clear reminder of just how dominant the pair, alongside Roger Federer, have remained over 15 years atop the tennis pyramid.

Unfortunately for Federer, the Swiss master couldn't pull off a third Australian Open crown in a row, falling to Greek young gun Stefanos Tsitsipas in a fourth round upset.

The 37-year-old's loss had notable critics declaring it was the end of the Fed era. John McEnroe claimed the four-set loss was "watching the changing of the guard" and Laver, an 11-time grand slam champ, agreed.

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The 80-year-old said the current-day Federer was a lesser beast to the one who took over Melbourne two years ago in a stunning return to grand slam glory.

"I think Federer has maybe got another Wimbledon in him," Laver said via Metro UK ahead of the final. "But he is battling a little bit. His age and strokes are not quite the same as they were two years ago. But he is still a force to be fought with.

"When you look at the others, Novak and Rafa, I would think Novak will certainly [win more Grand Slams than Federer]. When you look at his age, and form winning the last two, I would say Djokovic can eclipse Roger."

Aussie Wimbledon winner Pat Cash said records were "really important" to Federer and sided with Laver's prediction of the Serb leaving the sport ahead of the 37-year-old.

"I'm not sure these guys (Rafa and Djokovic) are that bothered about it, but for Roger it is really important to him to finish on top. He loves the records and I think that is why he has decided to play the clay-court season and get ready and be sharp for Wimbledon and the US Open and beyond.

"If Novak continues to win two Grand Slams over the next few years he'll go ahead and if Rafa wins here and the French then he is one away. Anything can happen. I think it means more for Roger."

As it stands ahead of tonight's final, Nadal (32) has 17 slams to his name, while Djokovic (31) sits on 14 with likely many years left on the circuit.