Cork v Waterford: The odds on this Guinness All-Ireland hurling quarter-final tell the story of how its status has slid from a clash between two of the country's top three teams to a foregone conclusion in the minds of many.

It's not that Cork are expected to trim their provincial rivals but few of even those talking up the possibility of a significant challenge are expecting the challengers to win, however close the match turns out to be.

There is, however, quite a bit going in favour of Justin McCarthy's team. Since he took over, the four meetings between the counties have seen alternating wins in tight matches where the average margin of victory is only a score.

On top of that is the fact that some of Waterford's best days have come in the face of a consensus that they would lose. Conversely some of the most bitter defeats have been when they were most heavily favoured.

The big problem for Waterford at present is that they have been unable to turn up convincing candidates for problem areas in defence and that the team at this stage is running out of feasible opportunities to win the All-Ireland.

In terms of form Waterford can argue there's not that much separating them from a Cork side that have had two curate's eggs of matches, mixing the impressive with the not-so-impressive.

The defeat by Clare two weeks ago came against opponents that have a bit of a hex on them (one win in five championship matches) and was on a day when all the sins of the full-back line were visited on the team as a whole.

Waterford live all the time with that awful possibility but it doesn't always happen and on occasions like last year's Munster final second half, the last line sometimes rises to the occasion.

But there's no escaping the fact that the team makes mistakes and concedes goals - in the past year or so the three Cork have scored in this fixture were all gifts.

As if all of this weren't uncertainty enough, Waterford have added some extra imponderables. The selection of Clinton Hennessy in goal was expected but is hardly reassuring. The serial calamities in the team's goal were recognised back at the start of the league when Hennessy was first called up. Despite a rocky start against Kilkenny he was retained for a few matches before being dropped.

Stephen Brenner started the championship and as recently as last week there was a three-way shoot-out for the position between the two of them and Ian O'Regan. So for the second year running Waterford come to Croke Park with a debutant in goal.

Then there is the matter of the sides' contrasting records at the venue. Last year's All-Ireland semi-final defeat by Kilkenny was cruelly laced with ill luck and the self-inflicted misfortune of John Mullane's suspension. Yet they pegged the then champions to three points. But it was another example of the county leaving its best form in Munster.

Cork on the other hand came alive in the All-Ireland series last year. Their three matches at Croke Park were won by a cumulative 48 points. Admittedly the quarter-final against Ulster champions Antrim accounted for 22 of that total but Leinster champions Wexford and All-Ireland champions Kilkenny fared equally badly by their standards.

There is also positional ambiguity, with Ken McGrath having lined out at centrefield in recent matches.

Surely he will have to line out in his selected - and best - place of centre back to provide a bulwark in front of the vulnerable full-back line.

Niall McCarthy is an important figure in Cork's attack and atoned for last year's roasting in the Munster semi-final by taking McGrath for four points, but the latter was hardly recovered from injury and lacked match fitness.

Paul Flynn's injury is sure to leave him below par and this increases the pressure on Mullane, who owes Flynn for carrying the team's attack during last year's suspension. But Mullane, free from forensic distraction, is in better form and signs are encouraging that he can deliver something near his best at Croke Park.

Both teams will have learned something from May.

Presumably, for instance, Eoin Murphy will take Joe Deane from the start and Cork will keep better tabs on Eoin Kelly, although the Waterford captain is always capable of a starburst in big matches.

Whether Cork are going to improve as dramatically as they did at this stage a year ago is open to question but what isn't is the team's ability so far to respond to challenges. They might have been careless in the Munster final but their unassailable first-half advantage proved to be just that.

Waterford have a proven ability to answer questions when confronted but tomorrow there are too many of them.

Cork: D Cusack; P Mulcahy, D O'Sullivan, B Murphy; J Gardiner, R Curran, S Ó hAilpín; T Kenny, J O'Connor; B O'Connor, N McCarthy, T McCarthy; B O'Connor, B Corcoran, J Deane.

Waterford: C Hennessy; T Feeney, F Hartley, J Murray; T Browne, K McGrath, E Murphy; D Bennett, E Kelly; D Shanahan, M Walsh, P Flynn; J Mullane, S Prendergast, J Kennedy.

Referee: Pat O'Connor (Limerick).