OMAHA, Neb. — Michael Phelps set another world record. No surprise there.

Dara Torres is going back to the Olympics. Who would've believed it?

Fresh off another endorsement from Mark Spitz, the iconic star he'll try to better in Beijing, Phelps set another world record to win the 200-meter individual medley at the U.S. Olympic swimming trials today.

Phelps claimed his fourth individual victory of the trials in 1 minute, 54.80 seconds, beating the mark of 1:54.98 he set while winning seven events at last year's world championships in Australia.

It was the second world record of the meet for Phelps, who also swam faster than anyone in history to win the 400 IM. His only piece of unfinished business: the 100 butterfly and an expected showdown with world recordholder Ian Crocker.

Phelps must finish first or second in that event to ensure he swims eight events at the Olympics. Then he'll need to win them all to beat Spitz's record of seven gold medals at the 1972 Munich Olympics.

Spitz was at the Qwest Center to watch Phelps make another run at the Holy Grail of Olympic records and believes he's got a good chance to do it.

"It's time for someone else to take the baton of responsibility," Spitz said. "Thirty-six years is a long time."

The 41-year-old Torres completed her improbable Olympic comeback, making the U.S. team for the fifth time by winning the 100 freestyle.

Wearing goggles older than some of her competitors, Torres got off to a blazing start and guarded her lead on the furious return lap to win in 54.78. Cheering her on in the stands was her 2-year-old daughter, Tessa.

Torres, who made her Olympic debut at the 1984 Los Angeles Games, has twice retired from competitive swimming. A nine-time medalist, she already was the first U.S. swimmer to make four Olympic teams.

Now, make it five.

Torres climbed from the water with a big smile and gave her coach, Michael Lohberg, a long hug. She broke down in tears while "American Woman" blared from the speakers.

"I'm ecstatic. I can't believe it," Torres said. "It's sort of bittersweet for me because I've made my fifth Olympic team, but I'm going to be away from my daughter for a month and that's really hard emotionally.

"But I'm happy to be going to Beijing."

Aaron Peirsol gained a measure of revenge for his upset loss at the 2007 world championships, tying the world record in the 200 backstroke and beating nemesis Ryan Lochte.

The two were stroke for stroke the whole race, but Peirsol lunged to the wall just ahead of Lochte to win in 1:54.32, equaling the mark set by Lochte at the last worlds. This time, the laid-back Floridian was two-hundredths of a second slower, leaving him in second place at 1:54.34.

"We almost tied there," Peirsol said. "It's weird sharing it, but I have no problems with that."

Lochte had a pair of runner-up finishes on a grueling night, returning about 28 minutes after his loss to Peirsol to finish second to Phelps in the IM.

Phelps also raced twice Friday night. He followed his world record by posting the fastest semifinal time in the 100 butterfly at 51.10. Crocker was second at 51.52.

Peirsol and Lochte were stroke for stroke the whole 200-meter backstroke race, but Peirsol lunged to the wall just ahead of Lochte to win in 1 minute, 54.32 seconds.

That was the same time put up by Lochte at the 2007 worlds in Australia, where he set the record and ended Peirsol's long winning streak in the backstroke events.

Lochte smiled when he saw the time. The two shook hands, and Peirsol patted his rival on the head, both of them mindful the stakes will be much in their next race.

The top two qualified for Beijing.

Amanda Beard is also heading back to the Olympics. She became a four-time member of the U.S. team by finishing second to runaway winner Rebecca Soni in the 200 breaststroke.

"I never get used to this," Beard said. "I'm pumped. This is fun."

Soni touched far ahead of the field in 2:22.60 to make her first Olympic squad — just off Beard's American record of 2:22.44 set at the 2004 trials.

"Rebecca's crazy. She's super fast," Beard said. "Now I get to train with her until the Olympics and hopefully I can get down and we can get gold and silver in Beijing."

Beard, who first competed at the 1996 Atlanta Games and won the 200 breast at the last Olympics, took a long layoff after Athens. She looked to be a long shot but managed to finish second in 2:25.13, holding off Caitlin Leverenz by less than a second.

In the 50 free semifinals, defending world champion Ben Wildman-Torbriner advanced to Saturday's final as the top qualifier, while Gary Hall Jr. kept himself in the running to become the first swimmer to win the same event in three straight Olympics.

The 33-year-old Hall, who won the frantic, one-lap dash down the pool in Sydney and Athens, posted the fourth-fastest time in the semis at 21.94.

Wildman-Torbriner, the surprising winner at last year's worlds in Melbourne, touched in 21.65, followed by Cullen Jones (21.71) and Garrett Weber-Gale (21.83), who already won the 100 free in Omaha.