by DAN WEIL, Special to FOXSports.com

Updated: January 28, 2008, 2:16 PM EST 6 comments

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But this month, all of them were beaten convincingly by younger foes at the Australian Open. Henin fell to tournament champion Maria Sharapova, 20, in the semifinals; Serena succumbed to Jelena Jankovic, 22, in the quarterfinals; and Venus surrendered to runner-up Ana Ivanovic, 20, in the quarterfinals as well.

Sharapova may sit at No. 5 in the world rankings now, but her Australian Open performance clearly establishes her as the second best player in the world after Henin. Already Sharapova has three major crowns.

And if the Russian can continue the form she displayed in Melbourne, she can easily take over the No. 1 ranking by the end of the year. Sharapova beat Henin 6-0 in the second set Down Under, and the Belgian was barely able to stay in the first set when she was playing her best.

Sharapova has improved her serve immensely, helped surely by the fact that last year's lingering shoulder injury has vanished. She also showed a lot more variety in her game than ever before in winning at Oz.

This is the woman that seven-time Grand Slam champion Mats Wilander called a "thoughtless ball striker" last year. But even Wilander must have been impressed to see Sharapova's sliced approach shots with sidespin against Henin.

The Russian has learned how to play defense and to volley. And her movement has improved enough to allow her to play defensively when necessary.

In the Australian Open, Sharapova simply had more game than Henin.

To be sure, that could change in May at the French Open, where the soft clay will be less rewarding for Sharapova's big-hitting style of play. And Henin isn't just going to give up her place as the sport's No. 1 without a fight.

The Belgian has continuously improved her game since bursting on the scene with a final-round appearance at Wimbledon in 2000. So don't be surprised to see her lift her level again.

For the Williams sisters, the issue is a bit more problematic. With all their injuries the past few years and their many off-court interests, the sisters have clearly decided to focus on the four majors and the Sony Ericsson Open in Miami.

That puts the No. 1 ranking out of the question for either of them. And they must each go deep in the few tournaments they do enter just to stay in the top 10.

Given that their attention really does center narrowly on the majors, their performance in the Australian Open was quite disappointing. Neither had much fight or much game in the matches they lost.

Both sisters have proved repeatedly over the past five years that they can come back after being written off for a chance to win a major. Serena even won in Melbourne last year without being in shape.

So they may rebound to disprove doubters again. But the opposite is also possible — that each of the sisters has won her last major.

As for the rising Serbian stars, Ivanovic certainly looks ready for a major breakthrough. She reached her first Grand Slam final at Roland Garros last year, bowing out meekly to Henin.

But she put up a much better effort in her loss to Sharapova Down Under — a highly competitive 7-5, 6-3 affair. If she can add a bit more pop to her serve, which shouldn't be too difficult given her 6-foot-1 height and strong body, Ivanovic may be ready to take home a major crown.

She is quicker than Sharapova and has a decent volley. Ivanovic also is 100 percent committed to improving and has a great coach to help her do it in Sven Groeneveld.

Jankovic is more of a question mark. Her serve is weak, which means she must work harder than most of the other top players to win. All that hard work is taking a toll on her body. She complained about a litany of minor physical woes during her six matches in Melbourne. At times she also appears more interested in creating drama for herself than actually fighting through to win a major.

But Jankovic has a very solid all-around game, and is a brilliant mover despite her 5-foot-9 frame. So with the right attitude and a lot of work on her serve, she could take home a major trophy yet.

The other serious up-and-comers are 18-year-old Czech Nicole Vaidisova and 20-year-old Russian Anna Chakvetadze.

Vaidisova already has reached two major semifinals and two quarterfinals. She lost in the fourth round at Melbourne to Serena. With a bit more schooling and some touch to add to her power, she could be ready to capture a Grand Slam title.

Chakvetadze, owner of a clever all-court game, made two major quarterfinals and one semifinal last year. She seemed primed for a major run at Oz until she suffered a horrific house break-in last month in her native Moscow. But look for her to rebound soon.

One name you shouldn't expect to see near the top again is Amelie Mauresmo, winner of the Australian Open and Wimbledon just two years ago. After an appendectomy last year that forced her out of action for months, she looks like a lost puppy on the court.

The 28-year-old Frenchwoman appears to be on her way down and out.

So get ready for some new champions.

Dan Weil is a FOXSports.com contributor, and can be reached at his e-mail address: dancweil@aol.com.