First things first...
Phelps is that good. He has been that good for a long time. He set a world record at 15 years old. You want to talk about phenom, well this is the definition. As bakes say it ehn just him though. The suit cause real records to fall as it not only creating greater buoyancy, it not only reducing friction by repelling water, but it actually brings the muscle fibres closer together and is fused together rather than stitched. Combine that suit with the best swimmer in history and you are bound to see some ridiculous times.
That being said, Phelps isn't the only one with a demanding schedule. Three girls raced in two races tonight alone. Ryan Lochte's turn around between the 200 back and the 200 IM is only about 40 minutes should he make both finals. He is joint WR holder in one and the second fastest man in history in the other and he did this at US trials in June when he only had 27 minutes between both races.
As for George, yes he got injured from a misstep in paintball, but had he not been injured, he would be among the Phelps/Lochte region in the 200 IM. George is a lot stronger and faster now than he was four years ago relatively speaking. Had fate alllowed him to stay with his natural event he would be very scary and would be a legit threat in the 200 IM. Talk to anyone who has coached him and they will tell you that George is a late bloomer. He didn't have the age group records people associate with star swimmers in TnT. He only got to breaking records in the 13-14 age group. When he got to college he was still skinny. In 2004 he put on some muscle mass but comparatively speaking he would be a twig compared to what he is now. Granted you need more strength for the 50, the fact that he has already gone 22.17 without taper or the suit shows that what he has done to adjust to swimming the 50 rather than saying "ah get injured buti done get a medal already so I done" is nothing short of brilliant.
I don't know if he will medal, but i do know that after his 100 the picture will be a lot clearer. He seems to be ready, so lewwe wait and see.