I have a habit of misreading newspaper headlines, so I simply assumed that this was just another one: Phelps sets word record in 400 IM. (And no, I don't normally read the Rocky Mountain News. The actual headline was printed across the top of the June 30 Seattle Times Sports section, but I couldn't find the headline in the online archives, so I found another newspaper with the same headline.)
Wow, how fast did he IM 400 words?
Duh, I must've misread it. Obviously the headline said world record.
No wait, it really was word record!