Two championships could be settled at Phillip Island on Sunday. Marc Marquez looks certain to wrap up the 2012 Moto2 title in Australia, as the Catalunya Caixa rider needs just 2 points to put the title out of reach of Pol Espargaro. Marquez’ chances of wrapping up the Moto2 title with a win look slim, though. Pol Espargaro has been in a class of his own at Phillip Island, his love for the circuit showing through in the way he has been riding.

The only man to get near to Espargaro all weekend has been Scott Redding, as Phillip Island is one place where Redding’s size is less of a handicap. With few places where hard acceleration from low speed is required, Redding can rely on his natural speed to get around the track. Despite still being the youngest rider ever to win a Grand Prix – a title he is likely to hold in perpetuity, since the minimum age went up to 16 – Redding is still winless in Moto2. If he can follow the pace of Espargaro, Phillip Island could well provide him with a real shot at his first win.

The MotoGP title may not be settled in Australia, though. Jorge Lorenzo leads Dani Pedrosa by 23 points, and just needs to finish ahead of the Honda man to wrap up the championship at Phillip Island. The odds of that happening looked much better on Saturday, Lorenzo taking 2nd spot in both the morning’s free practice and qualifying in the afternoon, finishing ahead of Pedrosa in both sessions.

But Lorenzo may yet have to leave the box of championship t-shirts in the flight cases, as a closer look at the race pace between Lorenzo and Pedrosa gives the advantage to the Honda man. Lorenzo is lapping consistently in the high 1’30s and low 1’31s, but Pedrosa has been reeling off strings of high 1’30s in race trim.

In typical Phillip Island fashion, a range of weather was featured during qualifying for the Australian GP — though, it was mostly cold, cloudy, and windy. With spots of rain throughout the day, it was anyone’s guess when the weather would, could, or should arrive on the coastal track, which meant every minute of qualifying counted.

Unsurprisingly, Casey Stoner dominated the time sheets throughout Free Practice, and was heavily favorited for the pole-position for Sunday’s race. With the MotoGP Championship going down to the wire for Jorge Lorenzo and Dani Pedrosa, MotoGP fans were perhaps more concerned what was happening behind Stoner, despite this being his last home grand prix.

When Casey Stoner was asked on Thursday about the key to his speed through Turn 3 – now renamed Stoner Corner in his honor – he refused to answer, saying only that he might tell everyone after he had retired. To anyone watching Stoner scorch around that corner and the rest of the track, the secret was plain to see: the Australian is completely in his element, totally comfortable and confident in every move he makes at the circuit.

Stoner left thick black lines round most of the left handers at the circuit, including daubing them all over the inside of the kerbs at Turn 3. It was a display of mastery that left even the injured Ben Spies in awe, watching at home on the computer. “I gotta say without a doubt Casey Stoner does stuff even GP racers watch and scratch their head at!” Spies posted on his Twitter page. Stoner ended nine tenths of a second up on second-place man Dani Pedrosa, the only man to dip into the 1’29s (just, his fastest lap being 1’29.999), and the only man bar Pedrosa to hit the 1’30s.

This weekend’s Australian Grand Prix at Phillip Island is going to be a very Australian affair, more so than most other years. For one obvious reason: this is the last chance to see Casey Stoner race a Grand Prix motorcycle at the iconic venue before he hangs up his helmet and retires from MotoGP. Record crowds are expected, and local media coverage has expanded as everyone gathers to say goodbye to the latest in a long and honorable line of Australian Grand Prix champions who have left an indelible mark on motorcycle racing.

The weekend started off with Stoner’s name being added to those of Wayne Gardner and Mick Doohan, in a ceremony to rename Turn 3 Stoner Corner. Gardner’s name has been given to the front straight, Doohan’s to Turn 1, and Stoner’s name follows after the Southern Loop. It is a fitting tribute to the man who has started from pole four times in a row, won here five times in a row, and achieved some remarkable feats in MotoGP.

The Phillip Island circuit is to name Turn 3 after Casey Stoner. A ceremony is to be held on Thursday at 11:45am local time to name the corner in honor of the 2007 and 2011 World Champion.

Stoner joins Mick Doohan and Wayne Gardner, Australia’s other two premier class World Champions, in having a part of the iconic Australian circuit named after him. Doohan has the first corner named after him, and the front straight running past the pits and into Doohan corner is named after Gardner.

The Grand Prix Circus came to Sepang with three titles in the balance. Only one of them got wrapped up on Sunday, though, tropical rainstorms throwing a spanner into the works of the other two, but generating some fascinating racing. The fans had one fantastic dry race, one fantastic wet race, and a processional MotoGP race that looked much the same as it would have had it been dry.

There was a packed house – over 77,000 people crowded into the circuit, a highly respectable number for a flyaway round – cheering on local heroes, there was confusion over the rules, and there were a lot of new faces on the podium.

There was also a much better balance of nationalities on the podium: where in previous races, the Spanish national anthem has been played three times on a Sunday, at Sepang, it was only heard once. Most of all, though, the Moto2 and MotoGP races ran in the wet would be determined by the timing of the red flags, with Race Direction’s decisions on safety also having an outcome on the results of the races, and in the case of MotoGP, possibly implications for the championship.

As was forecasted, the rain made its appearance for the start of the Malaysian GP being held at Sepang. The wet weather of course meant all bets were off for what could happen on this third-to-last round in the MotoGP Championship, and the adverse conditions increased the possibility of some “off-road excursions” by the riders. No one had more to lost from such a proposition than current points leader Jorge Lorenzo.

Sitting 28 points ahead of Dani Pedrosa, the factory Yamaha rider needed only to stay upright on his machine to retain control of the 2012 MotoGP Championship title, but with the rain in Sepang, that simple task could prove to be more difficult than anyone imagined. Needing to grab back as many points as possible, no one probably welcomed the rain more than Dani Pedrosa…well, except maybe the Ducati riders, which made for some high-stakes in the otherwise low-action race

One of the three “flyaway” races before the season finale in Valencia, the Japanese GP is race that is not only important to the two remaining Japanese manufacturers in the premier class, but it begins the dénouement of the MotoGP Championship.

Finding renewed vigor in his Championship hunt, Dani Pedrosa has only a handful of races left to catch Jorge Lorenzo, and win his first premier-class title. Truthfully needing Lorenzo to make a critical mistake or suffer a mechanical failure, Pedrosa also has to keep the pressure on his rival, and try to minimize the gap to his fellow Spaniard.

With each place separating the two riders likely to play a pivotal role at the end of the season, the drama unfolding in Motegi was palpable, though the action itself was a slow grind of a multi-campaign war.

There is little that motorcycle racing fans more than a good conspiracy. No mishap, contract dispute, or rider swap is ever the result of chance, error, greed or incompetence; there are always darker and greater powers involved, be it Dorna, Honda, or a major sponsor. They do not let the fact that their theories bear little resemblance to reality in 99.999% of the cases spoil the fun, and rightly so, moving happily on to the next dark conspiracy.

It took less than 10 minutes of the first session of MotoGP free practice before they had plenty to get their teeth into. Casey Stoner barely made it out of the pits before his Honda RC213V packed up, and he was forced to park it up by the side of the track, the bike felled by a mystery electronics issue. Stoner lost a lot of time in that first session, working with just a single bike as his mechanics tried to find out what had caused his first bike to fail. In the afternoon, an issue with the brake caused Stoner similar problems, losing valuable track time he needs to get back up to speed again.

A plot to prevent Stoner from interfering with Dani Pedrosa’s shot at the title? An entertaining idea, but in the reality stakes, somewhere beyond the moon landings conspiracy. Stoner’s problems are the kind of issue that every team has from time to time, with minor technical issues conspiring to work against them.

The press conference room at the Motegi circuit was a busy place on Thursday. The assembled press filed in twice during the afternoon, once to hear the head of Dorna talk about the long-term future of both motorcycle racing world championship series, and then again to hear five world champions talk about this weekend’s racing. There was much to digest.

What Carmelo Ezpeleta had to say about Dorna’s takeover of the World Superbike series has been covered elsewhere, though the irony of Ezpeleta hosting a press conference to talk about what was essentially an end run around HRC’s threats of a withdrawal at a facility owned and operated by Honda was not lost on everyone. The significance of the occasion was clear to all, and the groundwork has been laid for the future of both WSBK and MotoGP, though many fear the outcome.

An hour later, a much lighter mood prevailed when the riders filed in for the usual pre-event press conference. The long term was forgotten for a while, as everyone concentrated on two items: the return of Casey Stoner, and the impact of the Australian’s return on the championship. Will Stoner help Dani Pedrosa in his battle with Jorge Lorenzo for the 2012 MotoGP title? And is he fit enough and fast enough to be able to help if he wanted to?