The USA led the way on Saturday with an impressive qualification score of 275.342 as Japan failed to live up to their billing as favourites and Olympic champions China also struggled.
Japan finished fifth and China sixth, but the USA team, Russia, Great Britain and Germany will be braced for an improvement from both Asian countries in the final.
Jonathan Horton is the only member of the American team who is not making his Olympic debut but rookie quartet Danell Leyva, John Orozco, Jacob Dalton and Sam Mikulak showed no signs of nerves in qualification and a repeat performance could see them win gold at the North Greenwich Arena.
There has already been some thrilling action in the pool in the first two days of competition and American Ryan Lochte will be back in action on Day 3 as he attempts to claim his second gold medal of the Games in the 200m Freestyle final.
Michael Phelps will look to put the disappointment of missing out on a medal in the 400m Individual Medley final behind him by securing his place in the final of the men's 200m Butterfly.
The crowds at the Aquatics Centre will also be treated to finals in the women’s 100m Backstroke, the women’s 100m Breaststroke and the men’s 100m Backstroke.
Day 3 will also feature the first men’s Diving final of the Games and Chinese duo Yuan Cao and Yanquan Zhang are strong favourites for gold in the Synchronised 10m Platform event.
Great Britain poster-boy Tom Daley and the experienced Pete Waterfield are eyeing a medal, with Daley a more mature competitor four years on from his Olympic debut at the age of just 14 at Beijing 2008.
China are expected to dominate the Diving events, just as they did on home soil four years ago.
There will also be medals at stake in Shooting, Judo, Weightlifting and Fencing.