With the final AC regatta looming next month, Grant Dalton has been reviewing the current state of play for the Kiwi campaign and he has mixed feelings on their performance.

While the new boat is looking good on his report card, the crew work gets a very firm "must do better".

Boat speed was Dalton's biggest worry going into the latest regattas in Valencia but he was relieved to see how quick the NZL 84 was.

"We are fast enough. I thought the boat was going well. It's as good as any boat out there now," said Grant Dalton. "And that was a major objective and concern frankly. I wanted to know whether we were going to be quick enough with the concept of this boat. But we are not good enough. The boat is good enough but we are not good enough as a sailing team so that needs reviewing."

The mistakes were glaring with questionable tactics letting Luna Rossa in for a victorious and expensive luffing match, while poor communication and judgement had the Kiwis over the line at one of the starts.

Dalton blames extensive crew changes for the loss of form.

"We've been through a heavy rotation period throughout this regatta where we were trying to play the long game and in hindsight we may have rotated too hard."

Exploding spinnakers drew even more attention to the crew work which had been rated as the best in the fleet. Now it ranks only fourth, a rating also acknowledged on Dalton's post-regatta report-card.

"For the boat 'A', not an 'A-plus' because we can do better. The team - and I separate the sailing team from rest of the team - is a 'B-minus'."

Intensive crew training is planned for the next few weeks before the final dress-rehearsal for the Louis Vuitton Cup which starts on June 22. "