As I write this I see that I have a news alert from Swimming World that yet another world record was set' "...Federica Pellegrini blasted the women’s 400 free record shortly after Marleen Veldhuis clipped the women’s 50 free. ..."
Craig Lord noticed this phenomena first and writing about it at his site he said: "...Jacco Verhaeren, coach to Pieter van den Hoogenband, Marleen Veldhuis and company here in Eindhoven, has joined the chorus of voices urging FINA to do more testing on the Speedo LZR Racer in the interests of fair sport.
Claude Fauquet, technical director of French swimming jumped in as well. Craig's article: [Link]
I suspect the crux of their argument is that either: A) the suit has properties that can't be replicated or easily obtained. This includes cost, availability, patents or prior licensing agreements. It also could be, as mentioned in the article, that some host countries have agreements with swimsuit manufacturers that void their athletes from wearing the suits they want to wear. B) Speedo has a de facto monopoly on world records and is using it to an unfair advantage.
As for point "A," The countries that signed agreements with a rival suit manufacturers cut a bad deal though the availability issue could hold some water. That is to say, you can't go buy a LZR right now. Only team Speedo can wear them. In the sport of Track and field, that would be declared an unfair advantage but not so in swimming.
As for Point "B," It's not illegal to have a monopoly. (This according to our government: "... While it is not illegal to have a monopoly position in a market, the antitrust laws make it unlawful to maintain or attempt to create a monopoly through tactics that either unreasonably exclude firms from the market or significantly impair their ability to compete. ...") Speedo's patents and trademarks cannot be used against them either. [Link]
Also, let it be known, I do acknowledge on prima facie viewing that the Speedo Lzr could perhaps be the fastest suit ever produced. Nonetheless, I won't wear one and I don't like the Nike-like marketing tactics of Speedo whereas they hire "mercenaries" for top dollar en masse so as to make it look like their product is the only credible alternative. I think it hurts swimming and smaller companies.
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