Batting heroes - Martyn and Ponting (Getty Images).

Ricky Ponting toasted the best moment of his life after producing an awesome century to help Australia rewrite cricket history.

Australian captain Ponting struck eight sixes in an unbeaten 140 as his side won by 125 runs to become the first country to win the World Cup three times.

The all-conquering Australians, who have now won 17 consecutive one-day internationals, retained their title at The Wanderers to emulate the feat of the great West Indies' side during the 1970s.

Their 359 for two was easily the biggest total made in a World Cup final and represents their own highest-ever limited-overs score.

They reached it thanks to Ponting's ferocious assault which saw his 74-ball half-century turn into a huge hundred in just 47 further deliveries during an unbeaten 234-run partnership with Damien Martyn, who finished 88 not out despite batting with a fractured right index finger.

"This is the most satisfying no doubt about that. To do it when it counted was very special especially after struggling for the last two games," said Ponting, of his 13th one-day international century.

"It is the best cricketing moment of my life by a mile.

"If I get in and get set I give myself a chance of getting a big total. But I haven't been getting myself set recently.

"So I put my hand up and said that it was about time I started to go a bit both for Damien and the team and I managed to hit a few out of the middle."

India were never in the hunt such was the Aussies' gargantuan total and the only threat to a victory by the holders was the South African weather.

Most of the 31,779 crowd, draped in Indian flags and face paint, were jumping up and down as a mid-afternoon shower drove the players off the field with Sourav Ganguly's team 103 for three, eight overs short of the 25 needed for a result.

"It just goes to show how the fans wanted us to do well but it is not the right way to win," admitted Sourav Ganguly.

However, the rain ceased within a quarter-of-an-hour to prevent the prospect of the final being replayed tomorrow from scratch and the Australians stepped up their victory push.

"A lot of things were going through my mind when the dark clouds started circling around the ground I was very worried," confessed Ponting.

"I just tried everything I could do to get as many overs in as quickly as possible."

Ultimately, Australia were allowed to impose their considerable authority on the contest from Zaheer Khan's opening over, which cost 15 runs, after Ganguly won the toss under cloudy skies.

Ganguly claimed he did not regret his decision, arguing that 300 would have been chaseable and the Australians might have been shot out for less had his three-pronged pace attack of Zaheer, Javagal Srinath and Ashish Nehra, who shared 49 wickets in the tournament before the start of play, exploited the conditions.

"I don't think they put the ball in the right place, they bowled a bit too short and that is the reason they went all over the place," said Ganguly.

"Those guys did well and so did the team in this World Cup, we lost to a side that played much superior to us."

Australia raced to 105 in the 14th over before Ponting walked to the middle and he sensed the Indians in disarray.

"When I walked out to bat the whole feeling around the ground was pretty quiet, the body language from the Indians was pretty ordinary for most of the day so it was important for me and Damien to keep that partnership going and wickets in hand on a ground that we knew we could score heavily on in the last 15 overs," Ponting reflected.

"We took things to a new level today by scoring 359 batting first on what was not an easy wicket early on.

"They were the second best side in the World Cup and we have beaten them comprehensively; this Australian team manages to lift itself in big games."

However, rather worryingly for the rest of the world, coach John Buchanan believes his side can only get better.

"There is a good foundation there and I don't subscribe to the fact that we have taken the game to a new level," said Buchanan.

"There are lots of things that we do a bit better than everyone else but there is no question we can get better in all departments.

"If we were to sit back and congratulate ourselves on winning back-to-back championships we would be doing ourselves, Australian cricket and world cricket a disservice.

"A number of countries are looking at what we are doing and taking in our resources and expertise.

"It is up to us to keep trying to extend the gap that they are attempting to bridge."

Sachin Tendulkar was presented with his man-of-the-series award during the final closing ceremony, having entered the match with a new record 669 runs in a single tournament.

But after falling in the first over, he insisted: "I am extremely disappointed, being man-of-the-series I would have been happier if we had won the trophy."