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Phelps does it again: Gold and world record

The much-hyped showdown between Michael Phelps and Ryan Lochte never materialized this morning in Beijing, but neither had to have minded. Phelps dominated the 200m IM in world record time, putting him just two golds away from a staggering eight for these Olympics. Lochte didn't get close to Phelps in that race, but won a gold of his own 36 minutes earlier in the 200m backstroke. The U.S. swept that event, with defending gold medalist Aaron Peirsol earning a silver.

Next up for Phelps: Tomorrow's showdown with Ian Crocker in the 100m butterfly. It's the final hurdle in Phelps' quest for a historic eighth gold medal. Sunday morning's 4x100 medley relay is a virtual lock for the American team.

Photo via Getty Images