Paul Ambrose is leading the men's race with a strong lead while Hilary Biscay leads Michelle Mitchell - we're being told age grouper has moved into second on the swim
Already we've seen a couple of drop outs as Paul Ambrose leads the chase pack into the end of the first lap - he has a 50 metre lead!
Eight swimmers in the chase pack
After Ambrose and the lead pack there's a big gap! Working to get our spotters up to check out the leaders again
Ambrose leads from age grouper Aaron Cook then 4th is Greg Halin from Chris Southwell from Jason Freney
Leading women remain Hilary Biscay and Michelle Mitchell
Ambrose has lapped the back markers and is heading for the shore. The swim is almost swum
Ambrose stands, runs and wins the swim from Aaron Cook
Tim Berkel has just beaten Leon Griffin to be second and third pro men but in front of them are three age groupers, Paul OBrien, Chris Southwell, and Matt Hood
Hillary Biscay takes the swim for the women, Michelle Mitchell and Nicole Ward close and Jason Shortis has had a great swim while Chris Dmitrieff is also heading to transition
On the bike and the women are mixing it up already with Biscay now leading Nicole Ward and Michelle Mitchel back to third
So many age groupers out of the water now - and we'll have bike reports soon!
John Hill is out of the water!
Angela Clark leads her age group!
Glenn Gorick is into transition and we earlier spotted Spot Anderson too!
Ironmanlive is heading for the bike - more updates soon
Hilary Biscay is leading the women's bike race - Nicole Ward and Michelle Mitchell are locked in a great battle
Paul Ambrose and Hillary Biscay continue to lead the men's race - Michelle Mitchell has moved back into second from Nicole Ward in the women's race
And it's Paul Ambrose who is really stamping his authority on the bike leg with a 3m40s lead over Tim Berkel and Leon Griffen, locked together in a exciting bike race at the 50kms mark
Spare a thought for those still completing the swim; big numbers still exiting the water - Steve Hough just out in the M60-64 age group!
Hillary Biscay is riding strongly in strong winds with no signs of weakening; she's some 30kms into the bike leg and powering on!
Current conditions on the bike leg - it's cool, breezy and fine! Temperature is around 14-15C on the bike leg with a WNW wind keeping it cooler than some athletes would like!
Here's a shout out for Ken Murtagh who's gunning for his 17th finish in Ironman Australia today - Ken is from Turner in the ACT and is a a gung ho 72 years of age! Go Ken!
Hillary Biscay has some 90 seconds on her chasers in Nicole Ward and Michelle Mitchel, who remain locked together in their own private race. 30 seconds back is the remarkable Leanne Southwell, who is also the leading age grouper. Mum and dedicated triathlete, Leanne is going for finish number 7th in Ironman Australia
Paul Ambrose is making the turn at Laurieton, with Tim Berkel and Leon Griffen chasing hard and locked in their own struggle for second place.
Ambrose looks in great condition and is smiling broadly - he's actually making time on the chasers, 5m22s of time right now. Griffen and Berkel are working VERY hard to catch him but at this stage of the race it's not enough.
And there's a move in the women's race as the leading trio near the 40km mark, with Michelle Mitchell surged to distance her self from Nicole Ward. Ward says she's OK and just biding her time. And she was because as the chasing women hit the Dunboggan Aid Station it was Ward who rode through in second, Mitchell once more in third in what is proving an epic battle between the two pro women. Meantime Hilary Biscay continues to ride at the lead of the field.
The men are through the first turn around with Ambrose now 5m30s ahead of Tim Berkel and Leon Griffen, locked together, then there's 30 second more to Jason Shortis, Chris Stanton (AG), Chris Southwell (AG), Daniel Crossingham (AG) and Matthew Hood (AG) - no sign of the other pro riders at this time...
The women's race continues to see the leading trio of pro athletes being followed by Leanne Southwell, then it's Kate Dukes of Team PIS.
What the heck is Team PIS and Team TOSS? Team PIS are the athletes from the Penrith Institute of Sport while Team TOSS comprises triathletes of the Southern Shire... Mmmm! A little regional competition in play in Ironman Australia today!
So Ambrose leads now with 6m31 seconds over Leon Griffen now leading Tim Berkel. Hilary Biscoe's lead in the women's race is now cut to 41s as Nicole Ward and Michelle Mitchell continue to chase hard!
With the race headed back to town we can see that the men's race is anything but over in the minor placings but Paul Ambrose has a commanding lead as the bike kilometres whittle down... The women's race is hotting up as the Aussie pairing of Nicole Ward and Michelle Mitchell continue to chase down early runaway leader, Hillary Biscay! WIth a marathon ahead this race could go any way right now.
For the legion of Jason Shortis fans out there, the man is in fourth overall and 7m41s down on the lead.
The men are heading for town and the line up is as follows - Paul Ambrose 6m41s ahead of Leon Griffen, and Tim Berkel, Jason Shortis and a number of fast Age groupers are another 1m10s back on the chasing pack.
The Women's race is hotting up, Biscay is now only 20s in front of Nicole Ward and Michelle Mitchell.
Conditions Update: Frankly this is as perfect a day for racing Ironman as it gets! Temperatures remain cool, just under 20C, the wind is light, the sky is cloudless and the crowds are loud!