The 85-lap race was won by Brazilian driver Emerson Fittipaldi, driving a McLaren-Ford, with Austrian Niki Lauda a close second in a Ferrari and South African Jody Scheckter third in a Tyrrell-Ford.
Emerson Fittipaldi was the closest anyone came to Regazzoni, having used the "clean" side of the grid to his advantage,[clarification needed] leaving Jody Scheckter to fend off Niki Lauda for third.
The next group was headed by Pace, with his quintet of Depailler, Beltoise, Hailwood and Carlos Reutemann dropping away from sixth placed Hunt, but moving clear of Henri Pescarolo.
With the top six now split, it seemed as if the race would be a straight fight between Regazzoni and Fittipaldi for the rest of the afternoon, with the pair equally matched and without the distraction of Scheckter and co.
Denny Hulme was making steady progress behind Beltoise, while John Watson and Jean-Pierre Jarier were running close together at the tail end of the top ten.
Hailwood therefore joined the "battle" between Beltoise, Hulme and Jarier, while Depailler soldiered on for a few more laps before his Tyrrell picked up its customary brake problem, forcing him into the pits.
The two Lotus cars, meanwhile, were out of the fight, Peterson and Ickx taking turns to sit in the pits with a variety of issues being attended to, ranging from oil leaks to brake bleeding.
Their miserable display was matched by Pace, whose race had come to an end with a vibration, while the sister car of Jochen Mass came to a stop with a suspension failure a few moments later.
Hailwood was throwing his car around every corner to try and move back past teammate Hulme, and on lap 65 made an optimistic dive into turn one put him ahead.
Hailwood therefore finished a lap down in seventh, behind Beltoise and Hulme, while the wave of late race casualties had promoted Graham Hill and the lowly Lola into eighth, a stunning result for a new car, albeit one that had been artificially created in the closing stages