Records are likely to tumble today in the fifth edition of the Challenge Wanaka with the biggest field, the largest men's pro field and the largest performance bonus up for grabs.
The event has matured quickly and, this year, has attracted a world class field and a record number of more than 1200 athletes from 27 nations acting as a drawcard for several thousand spectators.
The field includes a number of high profile international professional athletes, including the event's largest men's professional field of 14.
Challenge Barcelona winner, Denmark's Jimmy Johnsen, and a previous Challenge Wanaka winner, Canadian Luke Dragstra, are two leading contenders.
Dragstra, who was second out of the water in 2009 only to finish fourth, returns to Wanaka looking for a springboard for a big season in 2011.
"I want to regain my title here," said the 2007 champion.
"I want to mix with the world's best for a top five at Challenge Roth [Germany] in July."
The 34-year-old admits a highly competitive field in Wanaka has made reclaiming the title no easy feat.
"There is no outstanding favourite - I think there are three of four favourites plus two or three dark horses which should make for an exciting race.
"But I don't think much about the other guys besides how it could affect me tactically.
"I have to stick to my own game plan and have a great marathon.
"I have the ability and am prepared ... I've got make it happen."
Cambridge athlete Keegan Williams is the leading Kiwi hope looking to clinch the title after a couple of close misses.
Williams, who finished runner-up in 2009 and third last year, knows there is added pressure to perform at home.
"I always put a lot of pressure on myself to perform well, so there is more internal pressure from myself than the general public," said the 30-year-old.
"With five past and current Ironman distance champions lining up, I think it's one of the best fields New Zealand has seen at an ironman distance race.
"It will be a great challenge and there is nowhere to hide on race day.
"The run is quite hilly at the end of each lap so you have to pace yourself well and use your energy wisely to be able to run the course fast."
All of the athletes will have the Western Pacific Performance Bonus in their sights.
The bonus has doubled from previous years and now pays out $10,000 to the first man under 8:20 and the first woman under 9:15.
The current course records are 8:34:41 and 9:28:27 for men and women respectively.
"Dollar signs always motivate athletes," said Williams."But it is going to take a perfect day conditions wise and an absolute stomping performance for the bonus to go."
The women's field welcomes back world-renowned triathlete and multiple iron distance champion Belinda Granger.
The Australian, who won the inaugural Challenge Wanaka in 2007, is one of the favourites despite only confirming for the event last week.
"I am not in the sort of shape I need to be in to race this distance hard," said the 40-year-old.
"I am hoping that what I lack in fitness I am going to make up for in my years of experience."
The veteran will compete in her 41st Ironman distance event today and has special memories of winning the inaugural Challenge Wanaka.
"To win a race on its first showing is always a wonderful feeling.
"It was an exciting weekend for me as my husband, Justin, finished second that year."
Granger loves the Aussie-Kiwi rivalry and the setting that is so different to her hometown Brisbane.
"Wanaka is such a spectacular location," said Granger.
"A great deal of the run is 'off-road', which is quite unusual for a triathlon event of this distance.
"It is by far the most amazing run course in the world."
Granger will compete in five ironman distance races, including three challenge events, and is not slowing down despite her age.
"I turned 40 years young last November.
"I think I am living proof that you can still race hard and expect the most out of yourself no matter what your age.
"I still truly love the sport and could not think of life without it."
The presence of Granger, who has 11 other iron distance titles to her credit as well as numerous podium finishes around the world, is a real boost.
"We're delighted to have Belinda and Luke here looking to reclaim the titles they won five years ago," said race director, Victoria Murray-Orr.
The 2010 champion, Gina Crawford, is unable to defend her title as she is pregnant with her first child due in early July.
"I am obviously upset that I will not be on the start line of my favourite event this year but I hope to be back competing in Wanaka if not in 2012 then in 2013."
Australian Courtney Ogden arrives in Wanaka in good form after claiming the Ironman Western Australia title in December.
Joanna Carritt from the UK is another top women's contender following a third at Ironman UK.
Men's 2010 champion, Richard Ussher, will not defend his title due to multisport commitments but will cycle in the "dream team" Team Tri Stars. Also in his team are Youth Olympic triathlon gold medallist, Aaron Barclay, and New Zealand marathon champion Shireen Crumpton.
The team's section features another legendary Kiwi triathlete.
Bryan Rhodes will go head to head with Team Tri Stars as he and his swimming teammate, Kristen Baker, defend their Mixed Teams title.
It is promoted as the world's most scenic iron distance triathlon set against the lake and mountain backdrop of the Mt Aspiring National Park.
"It's good to have an event that is competition for Ironman New Zealand," said Radio Sport host Mark Watson, who will MC Challenge Wanaka.
"I can't think of anywhere better in the world to host an event like this than Wanaka."
Challenge Wanaka Triathlon Festival is the largest in New Zealand with more than 2000 athletes of all ages and abilities taking part during the week-long celebration of sport.
"The event has grown by 600 per cent since the inaugural event in 2007 which is no mean feat in just five years, just one of the many things we will be celebrating at this fifth anniversary edition of Challenge Wanaka."
Triathlon: World class field lines up for Wanaka
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