Crew work and NZL84 will be under the microscope for Team New Zealand in what is the last show before the real deal in Valencia.
They weren't satisfied with their performance in last month's two regattas, when they finished third.
I expect them to step up in this regatta.
Starting is an issue for them. But the responsibility does not lie solely with skipper and helmsman Dean Barker. It is a combination of the computer package (determining the distance to the line), the bowman, afterguard and helmsman working together.
The benchmark for starting is Luna Rossa's James Spithill. Some of the teams underestimated Luna Rossa in the last regattas. It was rumoured they weren't going too well but they were going fine.
They are a real threat.
Starting well is something that comes with experience. It is about team communication and relationships. Are they communicating, is it harmonious, are they decisive?
I thought +39 tactician Ian Walker made a good point recently. Walker, who was skipper/helmsman of Britain's GBR Challenge in the last cup, was asked whether his experience as a helmsman had helped him as a tactician. He said yes, because you have a lot more sympathy for the helmsman when you have been one.
In the last regattas, Team New Zealand had a few issues with gear failure but they were quite minor and unlikely to recur. This regatta is important for the ongoing evaluation of NZL84 before their new boat.
The parameters of the new boat will be similar to NZL84, with a few subtle differences. But there may be a few question marks in relation to NZL84's manoeuvrability and downwind speed.
The boat has a lot of volume forward in the bow section, which means it's good in a straight line but in tacks and gybes it may be a bit sticky. Oracle's USA87 looks very manoeuvrable and good at accelerating.
Downwind sail development is big and there seems to be a range of different design concepts floating around, almost more so than in the main-sails and the genoas. From Luna Rossa to Oracle to Alinghi to Team New Zealand, the designs of the sails are quite different.
The design of the gennakers on Luna Rossa look the pick of the bunch. Team New Zealand will be looking at their design concepts for continued improvement.
The performance of the new Spanish boat will be interesting. It has good pedigree, being a Reichel Pugh. They have a good chance of making the top four.
There is not the difference in speed between the teams that there was in San Diego or Auckland. When we say someone is going better it used to be the length of the back straight but now we are talking just a few metres per mile, not boat lengths.
So if you are going fast now like the New Zealand boat is, in a mile test there isn't enough to create a passing opportunity.
The challengers may still not be at the same level as Alinghi. One thing is for sure: if Alinghi's new boat is a jump on their old one the challengers may be in trouble.
* Peter Lester is a yachting commentator and former America's Cup sailor.
<i>Peter Lester:</i> NZ crew seek wind beneath their sails
Opinion
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