Here are the Day one results for the Speedo Grand Challenge. As I thought, Amanda Beard is swimming faster than her seed times: Prelims [Link] Results [Link].
Amanda Beard's 100 breast was slow for a world class athlete. Her time was 4-and-a-half seconds off the meet record, 5-and-a-half seconds off the American record, and 6-seconds-plus off off Leisel Jones World Record. She scratched the final heat.
She swam the slowest 50's in the heat and was trailing from beginning to end, but, she did swim faster than her seed time.