Start to Twin Lakes: the deceptively gentle first third
The gun goes at 4:00 AM in the dark and cold, and the opening stretch around Turquoise Lake to the Mayqueen aid station near mile 12 is some of the most runnable trail on the course. From there you climb over Sugarloaf and bomb down the Powerline descent toward the Outward Bound aid station near mile 24, then roll on toward Twin Lakes near mile 38. None of this is technical, and that is exactly the trap.
This is the part where people feel great and run too hard, banking time they think they will need. At 10,000-plus feet, every match you burn early costs you double later. Get to Twin Lakes calm, eating, and well within yourself, because the race has not even really started yet.