America's swimmers are brimming with confidence heading into the Olympics, predicting they could finish with their biggest stack of gold medals in nearly three decades.

Head coach Eddie Reese said the men's team, led by teenage sensation Michael Phelps, is the best the United States had assembled since 1976 when they won every gold medal bar one.

"We're very excited about this team," Reese told a news conference on Wednesday. "I've been involved with U.S. teams for a long time and I don't think we've had one as strong as this since 1976."

If recent form is any guide, Reese has every reason to be confident the American men will dominate swimming in Athens.

The U.S. boast the current world record holders in eight of the 13 men's individual events as well as the medley relay.

Phelps holds the world records for the 200 and 400 metre individual medleys as well as the 200 butterfly and is an unbackable favourite to win gold in each event.

Aaron Piersol, world record holder for the 100 and 200 backstroke, is also a clear favourite in his specialty events while Brendan Hanson has emerged as the man to beat in breaststroke after capturing the 100 and 200 world records at the U.S. Olympic trials.

Ian Crocker upset Phelps when he swam a world record to win the 100 butterfly at last year's world championships and to prove it was no fluke he lowered his mark even further at the trials.

The three relays are shaping up as a match race between the U.S. and Australia with the Americans tipped to win the medley relay and the 4x100 freestyle and the Aussies favoured in the 4x200 freestyle.

"Choosing the relays is actually going to be hard because there are so many guys in contention, but that's a good problem to have," Reese said. "This is a team with a great mix of youth and experience and the potential is really there."

The U.S. women's team is far less dominant than the men but should still come away with a good few medals.

Natalie Coughlin holds the world record for 100 backstroke and is also a strong contender in the 100 freestyle while Amanda Beard holds the 200 breaststroke world record.

The U.S. also boast genuine medal contenders in a range of other women's events and while they do not have the depth of the men, Beard expects they will do well.

"I don't feel like we're under the shadow of our men's team but we're more underdogs and that's the way we like it," she said.