The Americans shattered the world record set by their "B" team the previous evening in the preliminaries, touching with a time of 3 minute, 8.24 seconds -- nearly 4 full seconds below the 15-hour-old mark of 3:12.23.
"Unbelievable," said Phelps, who swam the leadoff leg and then became the team's biggest cheerleader. "Jason finished that race better than we could even ask for. I was fired up. Going into that last 50, I was like, 'Aw, this is going to be a close race.' Jason's last 10 or 15 meters were incredible."
The Americans won the 400 free relay at seven straight Olympics, but watched the Australians and South Africans take gold at the last two games.
"You could tell I was pretty excited," Phelps said. "I lost my voice and I was definitely pretty emotional out there."
Bernard was the world record holder in the 100, but he surrendered that mark as well. Australia's Eamon Sullivan broke the individual record by swimming the leadoff leg in 47.24 -- ahead of Bernard's mark of 47.50.
Lezak swam his 100 in a staggering 46.06, the fastest relay leg in history though it doesn't count as an official record.
"Experience was better than talent," France's Frederick Bousquet said.
Garrett Weber-Gale and Cullen Jones also did their parts swimming the middle legs of the relay, overcoming the enormous pressure of making sure they didn't mess up Phelps' attempt to take down the Holy Grail of Olympic records.
While the Americans whooped it up on deck, Bernard clung to the wall, his head down. The swimmer who had talked confidently of beating the Americans -- "smashing" them, some media reported -- was the last one to leave the pool.
The French were second in 3:08.32 -- eight one-hundredths of a second behind. Australia took the bronze in 3:09.91. In fact, the top five all went below the record set Sunday.
Clearly, the swimming record book will need some heavy revisions by the time the Beijing Olympics are over.
Two more world marks fell Monday morning when Kosuke Kitajima of Japan finished off American Brendan Hansen's hopes of an individual medal, winning the 100 breaststroke in 58.91. Kitajima pounded the water defiantly and let out a scream after breaking Hansen's 2-year-old record of 59.13.
Hansen was left without a medal, fading to fourth behind silver medalist Alexander Dale Oen of Norway and Hugues Duboscq of France, who took bronze.
Kirsty Coventry didn't even bother waiting until a final to set a record in the 100 backstroke. The Zimbabwean won her semifinal heat in 58.77, taking down Natalie Coughlin's mark of 58.97 set at the U.S. trials last month.
They'll go head to head in Tuesday morning's final. Coughlin won her heat in 59.43 with a nice, comfortable swim.
Seven world records have been set through the first 2 1/2 days at the Water Cube.
Phelps had another race to care of, moving on to the final of the 200 free with the fourth-fastest time of the semis. Trying to save as much energy as possible for the leadoff leg of the relay, the American touched in 1:46.28 to finish behind teammate Peter Vanderkaay (1:45.76) and South Korea's Park Tae-hwan (1:45.99).
Jean Basson of South Africa also went faster in the other heat, winning in 1:46.13.
While Hansen still has a swim left in the medley relay, he'll go down as one of the major disappointments of the American team. A one-time world record holder in both the 100 and 200 breaststrokes, he didn't even qualify for the Olympics in the longer race.
Putting all his hopes of beating Kitajima in the 100, he wasn't close to the Japanese star, finishing 0.66 seconds behind.
"I've just had a really off year, on a really important year," Hansen said. "I just feel like that's not the last you're going to see of me. I'm going to bring it back and I won't be done until I at least have a legitimate shot at those world records again."
Hansen swam over to Kitajima's lane to congratulate the winner.
"You've got to tip your hat to somebody that does something like that in a pressure-packed race like that. That's a hell of a swim, and he is a true champion," he said.