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And should they become the first-ever team to claim three successive Championships then head coach Warren Gatland insists they will stand comparison with the great Welsh team of the 70s.
The side of Gareth Edwards, Barry John and JPR Williams are written large in Welsh rugby's history for their achievements in the red of Wales and the British & Irish Lions.
But Sam Warburton and co are hot on their heels and Gatland, who will lead his side into action this year after missing the 2013 tournament due to his Lions commitments, is confident his side can seal their own legendary status this winter.
"What's good about coming into the tournament is it's something for us to look forward to," he said.
"We are not having to try and motivate them, to pick them up and scrape a few wins together here and there.
"We have a lot of confidence and a lot of self belief.
"I think there is a positive and negative way to look upon that team of the 70s.
"Everyone talks about it, this group of players have been continually reminded about it most of their rugby careers.
"If we can achieve something special, whether it's this year or over the next coming years, hopefully it will leave a legacy of its own.
"To be able to look back on it and say that we did achieve something special as a team.
"Hopefully as a stepping stone for all levels of the game, the future of Welsh rugby, it would nice to be able to look back on that as well."
In Gatland's absence last year, Rob Howley took over a Wales side that claimed the title on points difference after destroying England 30-3 in Cardiff on the final weekend.
And having firmly established themselves as the top dogs of the northern hemisphere, Warburton is desperate for his side to make the most of their status.
"I would much rather be the favourite than the underdog," said the Welsh skipper.
"The players have worked extremely hard to get into this position and we should enjoy it.
"If that was the case then New Zealand would never be successful, they can handle that tag and they enjoy it.
"We have made a lot of sacrifices and worked extremely hard over the last three years to get Wales in this situation.
"It's yours to lose, for me last year we were desperate to keep hold of it, that's a massive motivating factor.
"And knowing that could happen, you just don't want it to and you'll do everything. That's why you play so desperately in the last 20 minutes."
Wales open up at home to Italy and Gatland is confident his side have put to bed their tag as slow starters, despite what happened in their opening day defeat to Ireland last year.
"I spoke to Rob (Howley) about last year, and he said what they struggled when they only had 19 players who could train," added the Kiwi coach.
"This year we are in a pretty healthy state physically, ones who have got injuries are not too far away, so we hope that will have a positive impact on how we start.
"It's a tough tournament to win, it's a tournament of momentum and confidence and trying to get off to a good start.
"We are not afraid of physically taking on anyone, we back ourselves to stretch them and to play at the pace intensity we want to play at for the full 80 minutes."