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Regression happens to the greatest of champions, and because we forget that Roger Federer is only human, sometimes we become startled when we notice his weaknesses.
Signs are beginning to show that Federer, the king of the courts, has started to slow down. There is no shame in Federer's regression.
Even with his regression apparent, Federer can still win Grand Slams and can still play flawlessly functional tennis. However, the difference between now and his heyday, which would be arguably between 2006 and 2007, is that there are some spots of weakness in his game which can be attacked.
We saw this when Murray demolished him, preying upon his weaknesses at the Olympics. The old Federer would have clinched the break points and put up a fight, but at the age of 31, Federer is not getting any younger and looked a little sluggish playing against Murray at the London Games.
It will be interesting to see whether Federer will be undercut by his younger counterparts like Murray and Nadal, or whether he can cut back on the copious number of errors he made in his game at the Olympics and come back fighting.