Michael Phelps won his sixth gold medal of the Beijing Olympics on Friday in record time, defeating rivals Laszlo Cseh and teammate Ryan Lochte in the 200-meter individual medley. Phelps defended his title from four years ago in Athens, winning in 1 minute, 54.23 seconds and lowering his own world record of 1:54.80 set at last month's U.S. trials. It was the American's sixth world mark in Beijing.

Cseh of Hungary took the silver in 1:56.52, his third runner-up finish to Phelps in these games. Lochte earned the bronze in 1:56.53, 29 minutes after he upset defending champion Aaron Peirsol to win the 200 back. It was the 21st world record set during the swimming competition.

Ryan Lochte got in quite a warmup for his showdown with Michael Phelps: a world record and the first individual gold medal of his career.  The laid-back Floridian edged fellow American Aaron Peirsol in the 200-meter backstroke, winning with a time of 1 minute, 53.94 seconds.

Lochte, once known as "Mr. Runner-up" for his frequent second-place finishes to Phelps and Peirsol, broke the world record he shared with Peirsol.

Lochte stunned Peirsol at last year's world championships in 1:54.32, then Peirsol matched the time in beating Lochte at the U.S. Olympic trials last month. Peirsol won the 100 back in Beijing, but failed to match his backstroke double from Athens four years ago.

Lochte didn't have long to celebrate. He was scheduled to return 29 minutes later for a daunting double, facing Phelps in the final of the 200 individual medley. Lochte's win was the 20th world record set in swimming during the Olympics, with two days still to go.