Jens is 15 minutes into the attempt. So far so good. http://www.cyclingfans.com/node/15609 Here is a link to the live webcast.
Yes , but obviously, the engineering (and location) has changed. http://www.cyclingnews.com/news/merckx-voigt-can-beat-the-hour-record “I am the last to do it with a normal frame, wheels, straight spokes, helmet, socks and pedals with straps. In 2000, Boardman was already using a shaped helmet, clipless pedals and wheels with bladed spokes, making big differences in watts. In Mexico City, with simply adding clipless pedals, I would have easily exceeded 50 km in an hour." Merckx’s record stood for 12 years before it was taken by Francesco Moser in 1984, on the same Mexico track. In the mid ‘90s there was a flurry of hour attempts, including one by Miguel Indurain, but the hour then fell out of favour. With the new regulations on equipment, the UCI hope to reinvigorate the record, with Bradley Wiggins, Tony Martin and Fabian Cancellara likely to attack the record in the future.
And to be fair, Merckx didn't ride with the equipment that was used when the record was set the first time by Frank Dodds in 1876.