Twelve teams head to Athens this week looking for gold in one of the Olympics’ showcase events, men’s basketball, which begins Sunday. Despite a stunning setback in a tuneup game against Italy, the U.S. remains the overwhelming favorite to win the gold. Here’s a look at the teams in the field and their chances of getting a medal.

UNITED STATES

MEDAL HOPES: Gold or bust

NBA PLAYERS: Everyone

Since blowing off the U.S. national team seems to be a rite of passage for the NBA’s A-List superstars, Larry Brown’s team will at least have to earn this one. They don’t have the shooting of some of the other teams and have never played together before. That said, their talent advantage remains formidable and they’re far and away the best defensive team in the tournament. But if something happens to Tim Duncan, all bets are off.

ARGENTINA

MEDAL HOPES: Going for gold, settling for silver

NBA PLAYERS: Manu Ginobili (Spurs)

Carlos Delfino (Pistons)

The Argentineans would have won the 2002 World Championships if Ginobili hadn’t hurt his ankle in the semis. As it was, they took the artist formerly known as Yugoslavia to overtime before succumbing in the final, their only loss of the tournament.

In addition to Ginobili and Delfino, four other Argentineans (Luis Scola, Fabricio Oberto, Andres Nocioni, and Pepe Sanchez) could sign NBA contracts by the end of the summer.All are in their prime, and they’ve been playing together for years, making Argentina a worthy adversary.

Unlike the other foreign teams, Argentina doesn’t depend on outside shooting – they play a slashing game heavy on quick cuts and passing. But their best asset is defense, which they do with more zest than the Europeans. Fortunately for the U.S., Argentina is in the other group, and they might not face off until the final.

SERBIA-MONTENEGRO

MEDAL HOPES: Battling for bronze

NBA PLAYERS: VladimirRadmanovic (Sonics)

Nenad Krstic (Nets)

Aleksandar Pavlovic (Cavs)

Peja Drobnjak (Bobcats)

This year’s version of the 2002 World Champions is a much less impressive bunch, and they were manhandled by the U.S. last Friday. With Peja Stojakovic, Vlade Divac, Marko Jaric, and Zeljko Rebraca sitting this one out, the Serbs are relying on their second string. Their most talented player (Radmanovic) is a major-league flake, and they don’t have nearly the shooting prowess that past teams possessed. However, the Serbs are still deep enough that they were able to tell NBA player Zarko Cabarkapa thanks, but no thanks.

LITHUANIA

MEDAL HOPES: Battling for bronze

NBA PLAYERS: Darius Songaila (Kings)

The best-shooting team in the tournament, the 2003 European champions will have to use those skills to make up for a lack of athleticism. Sharpshooters Sarunas Jasekivicus and Arvydas Macijauskas are two of the best players in Europe,but without NBA All-Star Zydrunas Ilgauskas and longtime stalwart Arvydas Sabonis (who was still frisky enough to win the Euroleague MVP this year) to man the middle, the Lithuanians are undersized in the frontcourt.

SPAIN MEDAL HOPES: Outside shot at bronze NBA PLAYERS: Pau Gasol (Grizzlies)

Spain’s claim to fame in international ball is beating an already-reeling U.S. team at the World Championships in 2002 to send the Americans to a lowly sixth-place finish. Spain’s attack begins and ends with the wiry Gasol.They lack enough quality players to make a deep tournament run.

NEW ZEALAND MEDAL HOPES: Outside shot at bronze NBA PLAYERS: Sean Marks (Spurs) Kirk Penney (Heat)

The “Tall Blacks” (a play on the All-Blacks name of their world-renowned rugby team) finished a surprising fourth at the Worlds in 2002 and have a number of talented wing players who can shoot from outside. But they lack a true center, relying on Marks and a collection of shorter players to man the inside.Their point guard play is also spotty. Should they face the U.S. in the quarterfinals, watch for their pre-game “Haka” dance, a Maori warrior ritual.

GREECE MEDAL HOPES: Puncher’s chance at bronze NBA PLAYERS: None

Because of their home-court advantage, the Greeks have a decent chance of springing an upset or two and ending up playing for a medal.They have a number of solid European players, including former Memphis Grizzly Antonis Fotsis, bookend forward Dimos Dikoudis, and Rockets draft choice Vasilis Spanoulis.

ITALY MEDAL HOPES: Dubious at best NBA PLAYERS: None

Despite their upset of a jet-lagged American team in Germany, Italy doesn’t pose a serious threat in Olympic competition. Placed in a group with Argentina, Serbia-Montenegro, New Zealand, and Spain, they’ll have to pull an upset just to advance to the second round.

AUSTRALIA MEDAL HOPES: Down under NBA PLAYERS: None

The Aussies are known for their ability to shoot the ball, and they have a deep rotation of big men that includes University of Utah sophomore Andrew Bogut. Former Seton Hall star Andrew Gaze and ex-T’wolf Shane Heal will fill it up on 3-pointers, but they lack athleticism in the backcourt.

PUERTO RICO MEDAL HOPES: Nada NBA PLAYERS: Peter John Ramos (Wizards) Carlos Arroyo (Jazz) Daniel Santiago (Bucks)

While Arroyo is one of the best guards in this tournament and they have two NBA centers, Puerto Rico’s wing players aren’t nearly up to snuff, as the U.S. showed in a sloppy rout that began their exhibition tour.

CHINA MEDAL HOPES: Far, far, East NBA PLAYERS: Yao Ming (Rockets), Mengke Bateer (Raptors)

Yao is the best player at the Olympics after Tim Duncan, but China’s guards are so awful that their superstar center will rarely have the ball in a position to do any damage. File away the name, Yi Jianlin, the 16-year-old prodigy who joins Yao on the front line.

ANGOLA MEDAL HOPES: If they give one for 12th place NBA PLAYERS: Maybe in 20 years

The Angolans qualified for Athens by winning the African championship, but this isn’t a step up in competition, it’s an elevator to the 20th floor. That said, the Angolans were surprisingly competitive in pre-Olympic exhibitions and could steal a game in Athens.