America's Cup: Watch Video Replay of Team USA Victory Thursday

Update Friday: Follow today's action live here.

Update 2: Kiwis will have to wait at least one more day before they start a national celebration the likes of which hasn't been seen in this country since we put a man on the moon. (Meaning: They really like their competitive sailing down there.) Oracle Team USA took the first race today, keeping its slim hopes alive. After a wind delay, a small window emerged during which the second race could start. But it was quickly abandoned when the wind kicked up again.

So that's it for today--they'll be back on San Francisco Bay tomorrow, with New Zealand maintaining it's 8-2 lead, but with Team USA enjoying just the slightest bit of momentum. Keep in mind, Oracle Team USA fans, of which we assume there are at least a few out there, Larry Ellison's crew still has to win seven straight races to successfully defend the cup.

Here's the full video of today's race.

Update: Team USA has taken the first race, keeping its slim hopes alive. The Oracle crew finished 0:31.3 ahead of New Zealand.

The score is now 8-2, New Zealand, with nine points needed to take the whole enchilada. That means Oracle will need to win eight straight to defend the cup.

High winds are now holding up the start time of the second race, originally slated for 2:15 p.m. The clock is ticking down to determine whether the next race is a go. We'll let you know. If the competition continues, you can follow the action live below.

The New Zealand Herald is like crazy fast in writing up their reports of these races. Here's their account of the first race today. The lead:

And still we wait.

Poised on match point in the America's Cup, Team New Zealand could not close out the finals in race 12 this morning, as Oracle pulled off a wire-to-wire win in what has become a do-or-die series for them from here on in.

There will be no panic in the Kiwi camp - they still hold a 8-2 lead in the series and have immense confidence in their boat. But that will be of little consolation to impatient New Zealand fans eager to kick of celebrations.

Earlier
It's that time again ... America's Cup action, hot and heavy in the water and -- more importantly for our purposes -- on Twitter. Follow today's racing live below. Race 12 is do-or-die for Team USA; if they don't take it, then New Zealand will regain the cup, which they last captured in 2000. If the Oracle crew wins, then we'll continue with the second race of the day.