KEY POINTS:
Yachties are dubbing Team New Zealand's nail-biting win over Alinghi this morning as the greatest race in America's Cup history.
The lead changed hands several times before the Kiwis crossed the line 25 seconds ahead to go 2-1 up in the best of nine series.
Members of the yachting community here are in agreement with the New York Times' yachting correspondent who called it the race "sailing aficionados had been waiting decades for".
Doug McKee, president of the Nelson Marlborough Yachting Association, said it was the "most exciting race" since Australia won the America's Cup.
He said Team NZ display "superb" team work and added: "We are definitely good enough to win the cup."
Kevin Purcell, a previous member of the Ponsonby Cruising Club and ex-president of the Stewart 34s Association, said: "The last two legs were brilliant - it was definitely up there with some of the best races."
From rounding the top mark 1 minute 23s ahead, the New Zealanders struck disaster at the bottom gate, getting their spinnaker caught in the genoa car and also nearly losing mid bowman Richard Meacham over board.
The mistake allowed the Swiss to storm back into the game. But the Kiwis held on to win.
Penny Whiting, high profile yachtswoman and owner/operator of the Penny Whiting Sailing School, said it was a "fabulous race".
"Any race where the lead changed so many times is exciting and fantastic, I relished in all the manoeuvres and tactics they used," she said.
Bill Miller, a founding member and measurer of the Stewart 34s Association, said: "It was one of the more surprising races. Everyone in the New Zealand camp would have almost been having a heart attack when we nearly lost."
Mr Purcell said Team New Zealand were now well set. "We are in a good position psychologically at the moment to put the boot in at the next race," he said.
Charles Clark, vice president of the Wellington Yachting Association, said he thought the difficult conditions, which Alinghi have expressed anger about, were behind the exciting racing.
"Both teams were having an extremely difficult time, fraught with problems about where the wind was going," he said.
He now thinks Team New Zealand can bring it home.