Niki Lauda believes Mercedes' new W09 has a slight edge over its rivals, but reigning world champion Lewis Hamilton isn't so sure.
Pundits have generally taken a stance in favour of the Silver Arrows, following the team's performance in pre-season testing in which Mercedes' race pace on its long runs appeared the strong.
Lauda acknowledged the W09 is a well-born car, but estimates its current advanatge is only worth of few tenths of a second.
"Our preparation was better than in was in recent years so I can go to Australia with confidence. But I see ourselves with Red Bull and Ferrari on a similar level," said the Mercedes non-executive chairman.
"I see us a maximum of two tenths ahead, behind Red Bull. Then comes Ferrari.
"The W09 is easier to drive -- even Bottas handles it well," said Lauda.
"What I noticed were the incredible cornering speeds, which is of course great for the fans at the track. As is the higher noise level."
Hamilton is confident Mercedes gas produced a very strong contender, but the four-time world champion plays down expectations
"I think at this time of the year everyone is trying to hype someone else up and we are the perfect target because we are the world champions," he said at a Petronas media event in Melbourne.
"It's like trying to put all the pressure onto someone else because it takes the weight off of you.
"But ultimately the pressure is divided on all of us because Red Bull seems to have done a great job with their car and it has a lot more furniture on it [than last year] and should be a lot quicker this weekend with two great drivers.
"And then you've got Ferrari who were in a real fight with us last year and they will be no walkover that's for sure. This year we expect them to be on it too."
Ultimately, the Briton says playing the guessing game is a futile exercise until the weekend's proceedings kick off and everyone shows their hand.
"My guess is as good as yours this weekend and I'm just trying to make sure I'm in the best position I can be and I understand the car and my tools, because as soon as you get on track the steps you take in terms of moving the car forwards and improving the envelope you are working in is crucial. Every step has to be the right step."
"From what I understand, I think Red Bull and Ferrari are very close. Potentially we are either level, just behind or maybe just ahead of the Red Bulls as far as I'm aware.
"But this weekend they might bring a new upgrade, so it's going to be tight. "
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