And, once again, it was Britain who inflicted the pain on Friday, with silvers in rowing and cycling coming behind the host nation's gold while cyclist Anna Meares was thrashed by arch rival Victoria Pendleton.
The supposed contest with Britain is turning into a whitewash as Kim Crow and Brooke Pratley took silver behind Katherine Grainger and Anna Watkins in the women's double sculls, while the men's team pursuiters were left floundering by Britain's world record breakers at the velodrome.
Meares finished second last in the final of the keirin as Pendleton won the gold, giving her an edge before their final contest in the individual sprint on Monday.
Australia won bronze in the men's quad sculls which was won by Germany.
After seven days of competition, Australia is 19th on the medals table with one lonely gold - and nine silver - while Britain is fourth with eight gold.
Even New Zealand was ahead of Australia with their three rowing gold medals.
Lurching toward its worst Olympics since winning seven gold in Barcelona in 1992 or Seoul in 1988 with three gold, Australia's malaise is reflected most starkly in the pool.
For the first time since Montreal in 1976, Australia will not have an individual swimming gold medallist after the squad's remaining hopes were knocked out on Friday.
Sisters Cate and Bronte Campbell failed to reach Saturday's 50m freestyle final, Meagen Nay finished fifth in the 200m backstroke final and Eamon Sullivan was last in the 50m final.
And compounding the misery is the ignominy of having an athlete sent home for an "inappropriate expression of my disappointment and frustration".
There'd hardly be a shop window left intact in England if all of Australia's disappointed athletes reacted as Booth did after his eights crew finished last in the final on Wednesday.
Police will not lay charges against Booth who has personally apologised to two shop owners and paid STG1400 ($A2,100) to repair their windows he damaged on a drunken night out in Egham, near the rowing course southwest of London.
"As a young athlete I have made a very grave and public mistake," Booth said.
Australia is hanging its medal hopes on the sailors down in Weymouth, with Laser world champion Tom Slingsby and 49er skiff crew of Nathan Outteridge and Iain Jensen leading their categories with two days' sailing to come, while Mat Belcher and Malcolm Page are second in the 470 fleet.
Discus thrower Dani Samuels also raised hopes of better fortunes in coming days with a powerful performance to qualify for the final, while long jumpers Mitchell Watt and Henry Frayne were less impressive in progressing.
Samuels produced her biggest throw in more than two years to power into the final of the women's discus with a heave of 63.97m.
Watt, the 2011 world championships runner-up, managed a leap of just 7.99m to qualify ninth for the final, while Frayne qualified in 11th spot for the 12-man final with 7.95m.
One of Australia's hottest gold medal favourites, the men's hockey team, had a slight stumble on Friday, drawing 2-2 with Argentina, but remain unbeaten after three matches.
Australia's women's water polo players are also in line for a medal after wrapping up an undefeated qualifying campaign with an 11-8 win over Russia to top their group and set up a quarter-final against China on Sunday.
The women basketballers forced their way back into contention to top their group with a 70-66 win over previously unbeaten Russia.
Diver Sharleen Stratton is ranked fifth moving into Saturday's semi-finals of the 3m springboard, while archer Taylor Worth was beaten in the quarter finals.
