IN what is hardly a shocking development, Michael Phelps was honored last week as USA Swimming's Athlete of the Year for 2007. Phelps, who also took home the ConocoPhillips Performance Award, was recognized during the United States Aquatic Sports Convention. Less than a year away from the 2008 Olympics in Beijing, Phelps is coming off a spectacular campaign. In March, he won seven gold medals at the World Championships in Melbourne, setting world records in the 200 freestyle, 200 butterfly and in the 200 and 400 individual medley disciplines. Phelps continued his superb year at the United States Nationals in Indianapolis by just missing the world record in the 100 backstroke and 200 backstroke. At Nationals, he also won the 200 freestyle, swimming the event under 1:45 for the second time in his career.