08:05 PM ET  02.03 | A desperate, exhilarating battle between the two greatest athletes in their sport took a tantalizing twist today in New Zealand, on Lake Karapiro. Mahe Drysdale, the three-time single sculls world rowing champion, resuscitated his Olympic aspirations with a "take that" victory over fellow countryman Rob Waddell, the 2000 Sydney Olympics gold medalist, whose spectacular return from retirement has scuttled Drysdale's anticipated coronation. That Drysdale would represent New Zealand in the 2008 Beijing Olympics seemed a forgone conclusion just a few months ago, and he structured his training accordingly to achieve his peak where it would be needed: in China this coming summer. But all that went out the window when Waddell, who hadn't rowed competitively in seven years, returned to the scene, threw down the gauntlet, and defeated Drysdale in their first two races. The magnificence of Waddell's return to elite, mano a mano rowing cannot be overstated. This is a sport in which raw power must be delivered for 2,000 meters at the outer limits of aerobic capacity, with impeccable technique and the will to tune out the shrieking cardiovascular sirens beckoning the oarsman to ease his pain and turn for the shore. It is no place for the rusty or the weak. Waddell shed twenty pounds of muscle and years of finely tuned conditioning and neuromuscular memory when he left rowing and ventured into an interlude of America's Cup sailing. But his uphill quest to regain elite athletic form has not been universally celebrated. Waddell's detractors complain that his actions are selfish and egotistical-- the greedy attempt of a man who has already won his gold to steal it away from his countryman, Drysdale, who has patiently paid his dues, waited his turn, and trusted he could structure his training for an optimal assault in Beijing. Drysdale, displaying the heart of a champion, is having none of the sour grapes whining. "I've got no problem with Rob. He's come back and done very well," said Drysdale. "Obviously one of us is going to be in Beijing in the single, one of us isn't." Not necessarily, if one believes the back room wheelers and dealers, who do not view the situation as so cut and dried. An apparent loophole in the Olympic eligibility regulations may open the door for Drysdale, who was born in Melbourne, to compete in the single for Australia. Drysdale, who is also an accomplished sweep oarsman who competed for New Zealand at the 2004 Athens Olympics in the four-oared crew, says no way . . . almost. "My goal is to make sure I'm selected for New Zealand, that is where my passion lies" he said. "If it did not work out I would have to assess my options. If that is an option then perhaps, but I am more likely to go into a crew boat and hopefully win another gold for New Zealand." The drama will next play out later this month at the New Zealand nationals, a prelude to the Olympic Trials in March, which, unless the Oz option is exercised, will have to serve as the heavyweight championship of rowing. With his victory today, Drysdale has made it clear that he's well into Plan B: a retooled peak in March and another in August. "If I'm put in a corner, I'm always going to fight my way out of it," he said this afternoon. "I was always confident I could beat Rob." Waddell is equally confident, characterizing today's race as just another step in his program, a bold comeback that many view as already well ahead of schedule. Stay tuned, folks. This is sport being contested at the peak of Mount Olympus.