Like the Cubans in boxing or the Chinese in table tennis, Britain are ready to take ownership of an Olympic sport for the first time in living memory.

The track cyclists are so dominant at these Games that there is realistic talk of them taking medals in all 10 events, with a large percentage of those being gold. Bradley Wiggins and Chris Hoy are the stars of the show - hoping to take home three titles apiece - but the performance of the supporting cast including Rebecca Romero, Wendy Houvenaghel and Chris Newton has also been something to behold.

Tory cabinet minister Norman Tebbit famously urged 1980s Britons to get "on yer bike" in bid to stimulate achievement. A generation later, their children have done so in Beijing to glorious effect.

Romero, who won Britain's fifth cycling gold, said: "In every sport there is a nation which dominates, and now is our time. The first year we started dominating, in 2007, the world said we couldn't follow that. At the world championships, we stepped it up again and we keep pushing ourselves."

Nicole Cooke kicked off the two-wheeled gold rush on the first weekend of the Games, bravely hanging on to win the road race.

After Emma Pooley claimed silver in the time trial, on Friday attention switched to the track when the team sprinters - Hoy, Jamie Staff and Jason Kenny - claimed the first velodrome gold.

Super Saturday followed with Wiggins taking the individual pursuit, Hoy landing the keirin and Newton sneaking a surprise bronze in the points race.

Romero then completed a British one-two with Houvenaghel in the women's individual pursuit yesterday before Wiggins, Paul Manning, Geraint Thomas and Ed Clancy broke their own world record in the heats of the team pursuit, which climaxes today. More success is promised with women's sprint star Victoria Pendleton and Tour de France hero Mark Cavendish yet to enter the fray. Wiggins and Hoy seem certain to add their haul before the velodrome closes tomorrow night.

Cycling team leader Dave Brailsford said: "It's absolutely the best British team that's ever left our shores."

It's not just Team GB who saying it. Rivals have also started to fear Britain and afford them a level of respect far-removed from the way the rest of the world views any other sports team from the United Kingdom.

Asked about his chances of gold against British riders in the men's individual sprint, Dutch rider Theo Bos said: "I have a one per cent chance, but if I have to race them, you never know. It looks like they have swallowed a motorbike."

New Zealand pursuit rider Hayden Roulston used even more colourful language to describe his contest with Wiggins. He said: "I think anyone is beatable but you have to cut your head off to beat Bradley."

Australian rider Ryan Bayley believes it started after the 2000 Games. He said: "They've turned it around in the last eight years. They were a laughing stock but now they are laughing because we can't beat them."

Bayley, who won gold in both the individual-sprint and keirin in Athens, admitted he is considering his future because he "doesn't like losing".

He highlighed the funding advantage Britain now enjoys over other cycling nations which, he feels, distorts the competition. According to UK Sport, more than £22million has been pumped into the sport since Athens. Bayley said: "We don't have the money they have available. They can buy whatever they want. You get frustrated because you can't buy the same equipment."

But ask anyone on the British side and they will tell you that talent is far more important than cash.

"It's no great secret," said team pursuit coach Matt Parker. "We work extremely hard and we have a talented bunch of athletes. With someone like Bradley Wiggins, we just give him that extra one per cent. We give the athletes the environment in which they can excel."

If it was purely a funding issue then rowing - £26m since Athens - would be more successful than cycling. And, although Britain topped the medals table at this weekend's Shunyi regatta, the sport's overall haul two golds has already been eclipsed by the cyclists.

Romero, who has now won Olympic medals at both sports, having taken quadruple skulls silver in 2004, added: "Cycling's been a vehicle to getting a gold medal. The model should be replicated. I've been involved in two of the top sports and they're worlds apart.

"British sport should look at the success we've had and learn from it. If we don't, we're not going to dominate at the London Games."