BEIJING, August 4, 2008 (AFP) - The 2008 New Zealand Olympic team was Monday rated as 'potentially' the best ever, but team officials held back on forecasting how successful it would be.

For a small country from the South Pacific, New Zealand traditionally punched above its weight at Olympic level, although its fortunes have slumped in the recent years.

However, former cycling great and now athletes' mentor Sarah Ulmer believed the Beijing team could reverse the slide if they perform up to expectations.

'We've never had more potential, I don't believe, as a sporting nation, than we have this year,' she said.

New Zealand's prospects are spearheaded by world shot putt champion Valerie Vili, a host of oarsmen led by triple world champion sculler Mahe Drysdale, triathlete Bevan Docherty and their yachtsmen.

At New Zealand's most successful Games in Los Angeles in 1984 they were ranked fifth with eight golds in an 11-medal haul.

But at Athens in 2004, New Zealand had slipped to 24th when their team with 17 athletes ranked in the top eight in the world won three golds in a five-medal bag.

This year, they have 27 top-eight ranked athletes and New Zealand chef de mission Dave Currie said history showed Olympic medallists came from athletes who have performed strongly at world championships in the previous 12 months.

'Does that mean they will all get a medal? It probably doesn't, but certainly if you look prior to Athens, the number that are in that frame for Beijing is significantly higher than it was for Athens,' he said.