Event director Jane Patterson made the decision this afternoon to cancel the race and hold a half Ironman race a day later.
"If we proceeded based on the weather information we have received, then we would be putting at serious risk the health and welfare of the athletes, our 2000 volunteers and the public," she said.
"However, we have believe we can put on a 70.3 race. Ironman have agreed that this will carry all of the benefits as if it were a full distance Ironman in terms of qualifying spots for the Ironman World Championships for age groupers and prize money and qualifying points for professionals.
The event had attracted full field of 1600 athletes.
The bad weather conditions brought back memories of 2006 for Brown, who failed to win the event for the only when he was beaten by Estonian Ain-Alar Juhanson after the swim was cancelled due to bad weather.
However, Brown was further disadvantaged by the organisers' decision to send Brown off first in the 180km cycling time trial, effectively making him a rabbit in the other competitors' eyes.
In top cycling events, the top-seeded rider always goes off last.
Brown got a bad case of blisters "the size of an apple" on his feet in winning this year's Port of Tauranga half Ironman event and is hopeful they won't hinder him on Sunday.
"They took me about four days to get over," he said. "I'll probably just tear them up again in the run."
Terenzo Bozzone, 27, has finished runner-up to Brown in the past three events at Taupo, and will be more suited to the shorter distance.
However, he said he was concentrating on his own performance rather than worrying about anyone or anything else. "I've identified the areas that I've been weak in in the past and I'm hopeful that I'll be up there in the final stages."
One man has figured large in his preparations over the past few months, however. "When I'm struggling to get motivated to go out and train I picture Cameron. I picture myself battling with Cameron along the lake in the marathon and I keep telling myself how bad I want it.
Kiwi Jo Lawn, a seven-time winner of Ironman New Zealand, is the top women's seed following her third last year due primarily to a puncture which cost her more than 15 minutes.
Also competing in Christchurch athlete Gina Crawford, who returns to the event following the birth of her son, Benjamin, last year. She won the Challenge Wanaka long-distance race at the start of the year.
The decision by the organisers to re-schedule a shortened race for Sunday drew a round of applause from athletes, with Crawford posting her appreciation on Twitter.
"Thanks so much to volunteers and IMNZ for giving us the opportunity to still do triathlon," she said.