Director of Rugby, Ian McGeechan has had some difficult decisions to make following the return of his international players for this game, not least where to play his England star, Josh Lewsey.
McGeechan has chosen to go with a familiar Wasps winning formula in midfield, that sees the combination of Abbott and Waters restored in the centre for the first time since Wasps played Cardiff in the Powergen Cup group stages last October, when Wasps won by a decisive 40 point to 19. Lewsey joins Mark Van Gisbergen and Tom Voyce in an exciting back three combination that will see Lewsey pull on his club No14 shirt of old for the first time this season, having played at centre and full back in his 12 previous starts of 2005-6.
With the unavailability of Alex King, still recovering from a fracture to his thumb, Jeremy Staunton continues at fly half, where he is partnered by his Irish compatriot Eoin Reddan at scrum-half.
The mix of experience and dynamism is continued through to the pack. Form hooker Raphael Ibanez is restored to the front row after his Man of the Match winning performance for France last weekend, where he is flanked at prop by Tim Payne and dynamic ball carrier Alistair McKenzie.
Another old partnership is restored at lock as Simon Shaw and Richard Birkett pack down together, whilst McGeechan goes with a formidable back row combination of Joe Worsley, Jonny O'Connor and Lawrence Dallaglio.
That there is excitement and anticipation in the camp at the prospect of facing old rivals Leicester is never in doubt as the team prepare to leave for Cardiff this afternoon, and Wasps' England players also are keen to get the disappointment of last week's loss out of their systems as quickly as possible.
Captain Lawrence Dallaglio is relishing the prospect of the big match occasion.
"We are very much looking forward to tomorrow's game - it's a huge challenge, at a great stadium and it will be a great day out for all 4 clubs.
"Semi finals are games that you look forward to, but no-one remembers the team that loses. All four teams will only be searching for one result, and there's huge carrot - the chance to play at Twickenham - at stake.
On the head to head with Leicester, the Wasps captain acknowledges the hunger for success of both sides
"We both crave one thing and that's silverware. There are only three trophies to be won at club level in England, and this is a very tangible chance to win one of them.
"The game is a mouth-watering prospect and both teams will be very fired up, not least because a lot of the players involved lost their last game of rugby and you want to get that out of your system.
"It's a test match in terms of intensity - the build up and atmosphere before and during the game have all the hall marks of a test match to me. There will be international players littered over the pitch on both teams and it's going to be a very exciting match.
THERE ARE A FEW TICKETS STILL REMAINING FOR THE POWERGEN CUP SEMI-FINAL DOUBLE HEADER FROM THE MILLENNIUM STADIUM TICKET OFFICE, 98 ST. MARY ST. CARDIFF, (NOW UNTIL KICK-OFF) OR THE MERCHANDISE BOOTHS, GATE 4, SATURDAY UNTIL KICK OFF
The Wasps' captain is also mindful of the importance of this confrontation as a springboard for both sides to success at the end of the season.
"I've got a huge amount of respect for all the Leicester team and coaching staff. They are a tremendously successful side whose record speaks for itself, and this is a huge challenge for both clubs. You want to play in games when you test yourself against the best, and Leicester are very, very worthy opponents.
"If either side is to prevail there are some key one-on-one battles to win and there is a common trend to the results between our to clubs: when they have beaten us in the past, their heavyweights have played very well, and it 's the same the other way around.
"Clearly, if you wanted to play your best game of the season this would be a good time to do it. It's one of those games when you have got to step up to the mark and it will give the wining team a huge amount of confidence and momentum going into the business end of the season. The repercussions of wining this game will be evident, for the team that does win, for the rest of the season."
Wasps: Van Gisbergen; Lewsey, Waters, Abbott, Voyce; Staunton, Reddan; McKenzie, Ibanez, Payne; Shaw, Birkett; Worsley, O' Connor, Dallaglio (capt).
Replacements: Barrett, J Dawson, Skivington, Haskell, M Dawson, Brooks, Erinle.
Leicester: Vesty; Murphy, Hipkiss, Lloyd, Varndell; Goode, Healey; Rowntree, Chuter, White, Deacon, Kay, Jennings, Moody, Corry (capt).
Replacements: Buckland, Holford, Collen, Tuilagi, Ellis, Cornwell, Tuilagi.