Out they sailed from Newport for the first America's Cup trials, two aluminum 12-meters representing the latest, loftiest and costliest thinking in U.S. marine design. And there on the briny they met a sea monster, a salty old witch of a boat, name of Intrepid, still riding a wooden broomstick as in her conquering cup visitations of 1967 and 1970. Well, the new kids were shook. Courageous (left), virginally white and billed as belle of the year, could only break even in four races with Intrepid, and Mariner, red as her designer's blush, was so slow they sent her back to the boatbuilder's tinsnips for surgery on her radical derriere—an unprecedented attempt to salvage what had come to look like a $1 million misunderstanding. Next round: mid-July. Forecast: long summer, and hot.