Michael Phelps smashed his own world record in the 400m individual medley to set off on what could be a record-breaking gold medal trail on day two of real action at the 2008 Olympics.

That was early in the morning and it took until late at night before we had a story that even came close to matching it, with the United States overcoming a slightly unconvincing start to beat China by an emphatic 101-70.

Along the way we had Stephanie Rice, one half of Australian swimming’s glam couple, matching Phelps with a world record and a gold medal in the women’s 400m individual medley.

They were fantastic tales, and there were many others, but I think my favourite today came in the shooting, where despite the ongoing strife between their two countries, Georgian Nino Salukvadze hugged Russian rival Natalia Paderina after they took bronze and silver respectively in the 10-metre air pistol.

There was also a classic bright about a name change that brought a great deal of good fortune for Thailand weightlifter Prapawadee Jaroenrattanatarakoon. What’s in a name? 31 letters and a whole lot of luck, in this case. 

I didn’t spot any golden quotes today but there was a decent piece of trivia. Did you know that South Korea’s women have won every women’s Olympic archery gold medal since 1984? They secured their sixth consecutive one on Sunday, beating China 224-215.

I’ll be back on the blog after a short break for sleep. In the mean time, please check out the latest edition of our podcast. I promise you, it’s by far the best yet and well worth checking out. That Linden bloke is a star. Here it is.

The Olympic basketball match between China and the United States just ended with the U.S. pulling away to win 101-70 in what they say was the most-watched event sporting event in China’s history.

It’ll be no surprise if the estimates are right and a billion or so people around the world were tuned in to watch what was after all an irresistible contest – a meeting between the “Reds” and the “Red-White-and-Blues” and one laden with symbols. 

Given the circumstances it was truly more than just a game — and I found myself wondering what James Naismith, who invented basketball in 1891 by putting up two peach baskets, would have thought had he been here too.

I had a great seat, not all that far from where U.S. President George W. Bush was watching, and a few rows over from actress Glenn Close, and even though I’m an American — and an avid follower of Olympic basketball ever since the United States got robbed by the Soviet Union in the electrifying final of the 1972 Munich Olympics — I found myself “oohing” and “aahing” like everyone else.

I even found myself cheering for the scintillating team play of China and the sheer joy that erupted in the seats around me when China scored.

At the same time the Chinese fans were out of the seats cheering every great American pass or basket — especially the spectacular, gravity-defying dunks form a U.S. team who seemed to be true to their promise of a new attitude after the humbling experience of Athens in 2004.

Basketball is a huge sport in China and many of the Chinese people I’ve talked say they watch the NBA all the time on television. It’s still much better, they confide, than their CBA. But, like everything else in Beijing, China is catching up.

And who knows what will happen in another 117 years?

PHOTO: Kobe Bryant of the U.S. slam dunks against China during their Group B men’s basketball game at the Beijing 2008 Olympic Games August 10, 2008. REUTERS/Lucy Nicholson

Chinese basketball player Yao Ming (C) holds the Olympic torch during the Beijing 2008 Olympic Games torch relay in Beijing August 6, 2008. REUTERS/Joe Chan (CHINA)

Russell Boyce writes: Yao Ming enters Tiananmen Square holding the Olympic torch high in the air in front of the portrait of Chairman Mao. The calm in the faces of Yao and Mao belies the chaos that surrounds them, as the flame escorts push back the assembled media and a crush of spectators.

Russell Boyce is Reuters chief photographer, Asia. For a selection of other great Reuters pix from the Games click here. For the full story on the torch click here.