Da Dalto is swallowed up by the peloton now, which is beginning to tap out a decent rhythm on the Ghisallo, but the pace is by no means searing.
Up front, Albasini is setting the tempo and Mirenda is grinding away on his wheel.
13:52 GMT 63km/197km
On the toughest slopes of the Ghisallo, Vladimir Gusev (Katusha) attacks and he quickly opens up a decent gap over the main bunch. He's now picking off the remnants of the early breaks and pedalling very fluidly indeed.
13:55 GMT
"Nibali could be the favourite, but it's very hard to pick names after a long journey from Australia," two-time Tour of Lombardy winner Michele Bartoli told Gazzetta dello Sport, sitting resolutely on the fence.
Gusev, meanwhile is closing in on the duo in front. He is 2:25 behind now.
13:57 GMT
Gusev is riding with leg-warmers but has ditched his leg warmers. He'll get nul points for style but he might well succeed in getting across to the break.
Behind, Giovanni Visconti (ISD-Neri) puts in a dig on the Ghisallo, but the move is soon countered by Gilbert, Schleck and the other favourites.
13:58 GMT
Gusev has ditched his arm-warmers, that should have read.
Visconti is continuing to be aggressive behind.
14:00 GMT 61km/199km
Angel Madrazo (Caisse d'Epargne) has attacked from the man group, with Italian champion Visconti on his wheel. Behind them the pack is beginning to break up.
14:03 GMT
Caccia and Albasini have 55 seconds over Gusev now and the ISD-Neri man has come to the front.
14:04 GMT 58km/202km
After a brief false flat, the Ghisallo kicks up again on the final push up towards the church and Albasini has dropped Caccia, seemingly definitively. Meanwhile, Gusev is eating up the road a little further behind.
14:06 GMT
It's an interesting move from Visconti and Madrazo. Indeed, Visconti seems to be struggling to stay on the Spaniard's wheel. The main bunch doesn't seem overly concerned so far, although there's an Euskaltel-Euskadi rider trying to get across.
14:07 GMT
Albasini enters Magreglio and reaches the top of the Madonna del Ghisallo. The crowds are out in force in spite of the rain.
Behind, Gusev has caught Caccia and they pass the church at the summit just a handful of seconds behind Albasini.
14:08 GMT 56km/204km
Madrazo and Visconti also seem to have made it across to Gusev and Caccia, while the main field passes over the top of the climb and past the iconic church, 55 seconds behind.
14:10 GMT
As far as we can make out through the mist, Cadel Evans (BMC) didn't climb off to join the barbeque on the slopes of the Ghisallo, so the Australia will be in the thick of the action in the finale.
14:12 GMT
Albasini has no interest in sitting up and waiting for the pursuers. The Swiss rider is trying to push out his advantage again on the descent from the Ghisallo.
14:13 GMT 50km/210km
Caccia is riding on the front of the chase group for his leader Visconti and the gap is sliding down to just 16 seconds.
Three Omega Pharma-Lotto riders are on the front of the main field, trying to shut down the Visconti move.
14:16 GMT 50km/210km
Albasini starts the climb of the Colma di Sormano with Visconti, Gusev and Madrazo on his wheel. Meanwhile, Caccia has been forced to sit up. The Italian gave it his all in the break with Albasini and his final act was to ride for his leader Visconti on the descent of the Ghisallo.
14:18 GMT
Albasini is dropped under pressure from Gusev. Visconti is looking stronger on the Colma di Sormano than he was on the Ghisallo. He's wrapped up tightly against the cold, like his ISD-Neri teammate Caccia.
The trio in front have 28 seconds over the main field.
14:19 GMT 49km/211km
Visconti goes to the front and immediately the pace rises and Gusev is under pressure.
Omega Pharma-Lotto continue to press hard at the head of the main for Philippe Gilbert.
14:21 GMT
Chris Horner (RadioShack) has a go off the front of the main group and opens up a decent gap even if the effort already seems to be telling. He'll need to settle in and find a suitable rhythm is he wants to get anywhere.
14:23 GMT
Visconti is looking strong now on the Colma di Sormano. He looks to have found his legs after being temporarily distanced by Madrazo on the Ghisallo.
Indeed, his latest spell on the front has seen off Madrazo. It's just Gusev and Visconti left ahead now.
14:24 GMT 47km/213km
Gusev's shorts are scuffed and torn in places, he clearly must have fallen earlier in the day. It's certainly not showing in his riding, however, he's looking very strong indeed.
The duo are 25 seconds clear of the group of favourites.
14:25 GMT
Bauke Mollema (Rabobank) has launched a great attack out of the main group and immediately opened a sizable gap.
14:27 GMT 46km/214km
Great riding from Mollema. The flying Dutchman has almost caught up to the two leaders Visconti and Gusev.
14:28 GMT
Mollema has caught Visconti and Gusev. Meanwhile, Haimar Zubeldia (RadioShack) has jumped clear of the chasing group.
14:30 GMT
That was impressive. Mollema took one long turn on the front and Visconti was almost immediately dropped. Gusev is also struggling to keep up with the Dutchman, who's putting in a great climb of the Colma di Sormano.
14:31 GMT 45km/215km
Mollema is free and clear up front. Gusev is chasing behind, while Visconti has been caught by Zubeldia and is going backwards at this point. He was struggling on the Ghisallo but looked to have found his climbing legs on the Colma di Sormano but it was merely an illusion it seems.
14:33 GMT 44km/216km
Zubeldia has caught Gusev, but the duo are 18 seconds behind Mollema, who is really isn't hanging around.
14:35 GMT
Visconti is caught by the main group. As they catch him, Michele Scarponi (Androni) puts in a big acceleration and the bunch begins to be whittled down a little more.
Zubeldia has dropped Gusev and is chasing Mollema alone.
14:36 GMT
The action is hotting up in the main group. Vincenzo Nibali (Liquigas-Doimo) has gone to the front and is causing serious problems.
14:36 GMT
Strong move from Nibali. Only a select few are able to follow. Scarponi is up there, as is Gilbert.
14:38 GMT
Gilbert is marking Nibali closely. These are the two favourites and they know it. Scarponi is also looking strong, and there is a solid group forming around these three.
14:40 GMT 41km/219km
Mollema approaches the top of the Colmo di Sormano and zips up his gilet against the elements. The temperature is just 6 degrees at the summit of the climb.
14:42 GMT
The descent of the Colmo di Sormano is treacherous at the best of times, but when you factor in rain and falling leaves, this could be carnage...
Gilbert and Nibali both almost ride in to the back of one of the motorbikes on the first bend but manage to stay up.
14:43 GMT
Gilbert isn't hanging around on this descent. He knows that Evans and the Schlecks were struggling to maintain contact near the top of the climb, and he'll want to open up a gap. Nibali is up there with him