For in years, ocean racing's most famous trophy, the America's Cup, has been gathering dust in the New York Yacht Club, waiting for a foreign challenger to win it away from the U.S. The British have tried 15 times, the Canadians twice. Their combined efforts have cost at least $25 million, and all have failed. Last week another nation threw down a challenge. Along the banks of the Parramatta River, outside Sydney, throngs of excited Australians cheered the launching of a sleekly handsome 12-meter yacht that may give U.S. sailors their sternest test...
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