So is Sudie (one of the spin teachers at LA fitness) as well as a few thousand other athletes. You can track his progress here http://www.ironman.com/events/ironman/florida/?show=tracker&y=2007 bib 471.
So far he's out of the water 3 minutes ahead of last year 1:06:56 and his transition was 2.5 minutes faster... but I guess that could mean they changed the transition area.
75 miles of the bike done... looks like he's right on pace.
10:29:18 - wow... great job Joe!