But she was fifth on 10m platform and failed to defend her Olympic title from Sydney. It was the United States' highest finish in a dismal showing that resulted in a medals shutout for the first time in 92 years.
"That was almost like a carrot being dangled out in front of me," Wilkinson said recently. "It made me realize that I can do better than this, I can do harder dives, I can do more. I got fired up again and my passion for the sport was kind of reignited."
Despite USA Diving's efforts to cultivate new talent and regain its international dominance, Wilkinson remains the American face of the sport at 30. The 14-time national team member is the only platform diver to earn a career triple crown with gold-medal performances at the Olympics, World Cup and world championships.
"I never really imagined I'd be diving this long, but I still love it, it's still fun, it's still exciting," she said. "I hope it's an encouragement to other people that you don't have to be done early just because most people are. If you still like what you're doing and you're still learning new things, then keep going."
Wilkinson won titles on platform and synchronized platform with 22-year-old partner Jessica Livingston at this month's U.S. national championships. She will attempt to qualify for the Beijing Olympics at the U.S. trials in June.
"I definitely want to win a gold medal, that should be everybody's goal," she said. "Beyond that, I just want to do all that I can do. I want to do my hard dives really well, I want to see what my true potential in this sport really is. I want to grasp that."
Wilkinson's 5'6" body has taken a pounding over the years from diving off the platform and hitting the water at blunt-force speed. Many platform divers retire in their early 20s or switch to 3m springboard. She's had multiple surgeries on her right wrist from arthritic pain, but aside from the usual aches and pains is healthy.
"I feel the strongest I've ever been and I'm in one piece, so that's a good thing," she said.
Since Athens, Wilkinson and coach Ken Armstrong have come up with new dives and increased the difficulty, giving her one of the toughest lists in the world.
"We're still deciding whether to use them or not, we're trying to see if it's a wise decision, if I can be consistent enough in those dives," she said.
At a World Cup meet in February in Beijing's Olympic pool, the U.S. finished second as a team. Wilkinson, a four-time visitor to the Chinese capital, relishes the chance to take on the Chinese in their home pool.
"They'll probably have a lot of pressure. I'm sure some of them might crack a little bit under it, but you're going to see a lot of them hold up to it," she said. "That's also a good opportunity for us to go in there and try to put pressure on them and dive really well and see where they fall."
When she started diving, Wilkinson was the young one. Now she's the veteran looking out for youngsters like 15-year-old Haley Ishimatsu, a platform specialist.
"I'm there if they want advice," Wilkinson said. "I'm not going to shove anything down their throats, but I like being there for them and some take advantage of that."
Ishimatsu recalls watching Wilkinson win Olympic gold as an 8-year-old and thinking "it was really cool."
Before competitions, Wilkinson reminds the teenager to have fun.
"It's really helpful because if you're not having fun with it, you start getting nervous and you get tight and you can't dive as well," Ishimatsu said. "If you just have fun and you're really enjoying it, that's when I perform my best."
Away from competing, Wilkinson is busy trying to raise $11 million for a new pool and complex at her training base in The Woodlands, Texas. She started her own foundation last year to boost the project and is planning fundraising events in the run-up to the Olympics.
Armstrong wants to incorporate gymnastics, trampoline and dance with swimming and diving at the facility where he has coached Wilkinson for 15 years.
"It's kind of neat for me to now try to make his dreams a reality," she said.
If Wilkinson needs a reminder why she keeps diving, she'll play a tape of her surprise triumph in 2000, when she rallied to win over the Chinese.
"I'm the only one going into this meet (Beijing) knowing that I can do that," she said. "That's a pretty cool advantage to have."