**The New York Yacht Club's Annual Regatta is always as much spectacle as it is a regatta. **Really, how many other weekend regattas have a Volvo 70 entered in IRC? This year, the event's boat porn quotient was even higher than normal with the approaching starts of the Transatlantic Challenge and J Class Regattas. Walking the piers of Newport Shipyard, you were treated to the enormous, odd, yet strangely beautiful Maltese Falcon, the VO 70 on steroids Rambler 100, her archrival ICAP Leopard, the stunningly beautiful J Class Velsheda, Puma's Mar Mastro, and a collection of the hottest racing boats on the East Coast. (If you missed the spectacle, check out the US SAILING Roadshow blog at ussroadshow.blogspot.com for a video tour). If you walked a little further down the pier, though, you entered a time warp. Nestled amongst the carbon behemoths were the 12-Metres, ghosts from the day when the America's Cup was really Newport's Cup. The Cup is long gone. The 12s, which have graced the waters of Newport for 50 years, show no signs of going away anytime soon.