The long list of contenders for the AFL premiership will be gently rubbing their hands together after watching Collingwood and Geelong bang heads in a low-standard grand final rematch.

In a battle played in front of 75,650 fans at the MCG, Collingwood limped over the line with Brownlow medallist Dane Swan straining a hamstring and All-Australian defender Ben Reid again suffering a thigh injury.

While the entertainment value was there, both sides played well below the level on display in last year’s premiership decider, with turnovers and spurned shots at goal the theme of the night.

Rather than a contest that showcased the prowess of the two best teams from last season – who together lost just five matches in 2011 – we witnessed a standard more befitting a struggle between mid-range teams.

There were fumbles and bad decision-making aplenty, even from elite players like Heath Shaw and Joel Selwood.

Josh Hunt had a night he’d rather forget.

In the first quarter, going back with the flight of the ball, Hunt dropped a simple mark with only Dane Swan anywhere near him, leading several commentators to suggest he ducked his head.

And with scores level and less than two minutes remaining, Collingwood’s Alex Fasolo marked on the wing and was handed a 50-metre penalty after being tackled by Hunt as he shaped to play on.

The Pies were less jittery during the first three quarters and established a 24-point lead early in the last quarter.

But with Swan and Reid sidelined, Buckley’s men became nervous and lost the run that had allowed them to lead at every change.

The Cats flicked the switch and finally showed why they have been the AFL’s powerhouse side over the past five years.

But for all their bravery they wasted chances, kicking 5.12 for the second half, including 4.6 in the last quarter when they had 23 inside 50s to Collingwood’s 10.

The Cats’ grand final hero Tom Hawkins was among the offenders, finishing the night with 2.4.

Is it a sign that they have lost their killer punch? Would Essendon, West Coast or Carlton have delivered the knock-out blow?

This season is shaping as the most open race for the flag in decades. West Coast, Essendon, Adelaide, Carlton and Hawthorn should all be considered genuine contenders.

But the challengers to the Cats and Magpies have their flaws too.

The Crows have not won in Victoria in 15 games, the Eagles have an endless injury list, the Bombers have a history of fading late in the season, the Blues have a whiff of softness and the Hawks are nothing without Franklin and Rioli.

Geelong’s brave final-quarter comeback showed all the hallmarks of a champion team and proves they still have some fight left in them during 2012.

Their challenge now is finding a way to win when it matters because with a 4-4 win-loss record, they cannot afford further close losses in their bid for a top-four finish.

Richmond might finally be on the improve but the Tigers are given little hope of upsetting high-flying Essendon in Saturday night’s much-anticipated ‘Dreamtime at the G’ clash.

A crowd of more than 80,000 is expected to flock to the MCG to watch two of the most improved teams in the competition in 2012 in what is easily the pick of the five Saturday matches in Round 8 AFL action.

The Bombers, widely written off as a top eight contender, have surprised just about everyone to win six of their first seven games including the prized scalps of Carlton and West Coast to be sitting second on the ladder.

Perennial strugglers Richmond, meanwhile, have won their past two games and been competitive against big guns Collingwood, Geelong and West Coast earlier in the season.

However TAB Sportsbet’s Adam Hamilton says the money is running seven to one in the Bombers favour in head-to-head betting with the Bombers firming into $ 1.48 while the Tigers have drifted from $ 2.55 to $ 2.65.

The Bombers will also be boosted by the return of key forward Michael Hurley from injury while the Tigers are still without their injured forward Tyrone Vickery.

There has been some support for the Tigers at sportsbet.com.au with Damien Hardwick’s team in from $ 2.65 to $ 2.60 with the Bombers easing from $ 1.47 to $ 1.52, while at Centrebet and Sportingbet it’s $ 1.52 for the Bombers and $ 2.50 the Tigers.

However the Tigers are great value in this game considering they have won eight of the past 12 against Essendon since 2005 while the Bombers are not the same team at the MCG as they are Etihad Stadium, having won just two of their past 15 at the venue.

A Richmond win by four goals or under is paying an attractive $ 4.25 at Centrebet while at Tom Waterhouse the Tigers are great value at the line – $ 1.97 with a 12.5-point start.

The other key game on Saturday is Hawthorn hosting Fremantle at Launceston where the Hawks are $ 1.18 favourites at TAB Sportsbet, with the Dockers at $ 4.90.

However the Hawks are better odds to be the first team to reach 25 points at $ 1.33, considering the Dockers have not won a first quarter since the opening match of the season, while the Hawks are value at $ 2.20 to win by under 40 points with Sportingbet.

The other three games look predictable with North Melbourne, Sydney and the Western Bulldogs all odds-on in their matches to defeat struggling Port Adelaide, Melbourne and Gold Coast respectively.

However the Power at home and with spearhead Jay Schulz back in the side following injury are value at the line – $ 1.91 with a 15.5-point start at both Centrebet and Tom Waterhouse.

Collingwood has fought their way to 12-point win in Friday night’s pulsating grand final re-match with Geelong at the MCG.

The desperate Magpies beat the fast-finishing Cats for the first time since the 2010 preliminary final. They led at every change before eventually holding on to win 14.12 (96) to 11.18 (84).

The match failed to live up to the high standard expected of grand final rematches for the opening three quarters with both teams guilty of sloppy skill execution and decision making in a match played in front of 75,650 fans.

But Geelong almost pinched victory from the jaws of defeat with a brave last-quarter challenge that was ultimately thwarted by a 50-metre penalty against veteran defender Josh Hunt.

With the Cats dominating across the ground, the scores were level with less than 90 seconds to play when Hunt infringed on the mark on the wing, gifting Alex Fasolo an easy shot at goal.

The four points entrenched Collingwood in the top eight heading into the remainder of Round 8 and leaves the reigning premiers languishing in the bottom half of the ladder with just four wins.

But the Magpies’ win could come at a cost with superstar midfielder Dane Swan suffering a hamstring injury and defender Ben Reid appearing to aggravate the back injury that has hampered his season.

The reigning premiers, who struggled to overcome the late withdrawal of All Australian full back Matthew Scarlett, will rue some costly mistakes by hand and foot on a high-pressure night where the stakes were high for the losers.

Unlike in past meetings, the Cats struggled to contain Collingwood’s midfield stars as Steele Sidebottom (38 disposals) and Scott Pendlebury (30 touches) figured in a series of damaging passages of play.

Tyson Goldsack, who was influential in his role as a third forward, helped the Pies to an eight-point lead at quarter time when he chopped off Cameron Guthrie’s ill-directed kick out of defence and sent a 60m bomb over the goal umpire’s head.

Both teams added four majors in a high-tempo second term with Pendlebury’s conversion on the run from a tight angle and Cats forward James Podsiadly’s unintended goal from the centre square the highlights.

The Cats cut the margin to three points four minutes after halftime when Paul Chapman marked and goaled but the Pies answered with the next three goals to take a 17-point lead into the last change.

The Magpies snared the crucial opening goal of the final quarter when Chris Dawes took a strong mark and kicked truly.

But with Swan disappearing down the tunnel for treatment on his right hamstring the match turned and the Cats fought their way back into the contest when Mitch Duncan and Tom Hawkins each found their second goals.

When Cloke marked and goaled deep in attack at the 13-minute mark the lead was back to 18 points but Geelong refused to concede defeat as Mathew Stokes booted two goals in a row to level the scores with less than two minutes left.

But Hunt’s infringement saw the Pies regain the lead before Pendlebury iced the game inside the final 30 seconds with another brilliant goal on the run.

Pendlebury, who had been in bed all week with a cold, was back to his blistering best, booting a career-best four goals and amassing 20 hard-ball-gets as Sidebottom continued his good recent form with a game-high 38 touches.

Dale Thomas, in his comeback from injury, was quiet with 14 disposals while veteran small forward Alan Didak was far from his best, managing 12 touches before being subbed out of the match.

For the Cats captain Joel Selwood was the leading ball-winner with 31 touches including 15 contested possessions while Harry Taylor battled manfully in defence.

Stokes was dangerous up forward, kicking three goals including two crucial majors late in the game.

Power forward Tom Hawkins presented well but wasted too many chances in front of goal to finish with 2.4 while Pies backman Reid won his battle with Podsiadly despite the veteran’s two goals.

Western Bulldogs host Geelong at Etihad Stadium next Friday in Round 9 while Collingwood face Adelaide at AAMI Stadium on Saturday night.

COLLINGWOOD: 3.6, 7.9, 10.11, 14.12 (96)
GEELONG: 2.4, 6.6, 7.12, 11.18 (84)

GOALS: Collingwood: Pendlebury 4, Goldsack 2, Fasolo 2, Cloke 2, Swan, Blair, Dawes
Geelong: Stokes 3, Hawkins 2, Podsiadly 2, Duncan 2, Motlop, Chapman
BEST: Collingwood: Pendlebury, Swan, Sidebottom, Fasolo, Reid
Geelong: Taylor, Stokes, Johnson, Kelly, Corey
INJURIES: Collingwood: Swan (hamstring), Reid (back)
Geelong: Nil
REPORTS: Nil
CHANGES: Geelong: Smedts replaced Scarlett (ankle) in selected side
UMPIRES: Stevic, Meredith, Findlay
CROWD: 75,650 at the MCG