The 31-year-old windsurfer began training back on the London 2012 waters as of Easter Monday - around six months since he last spent any extended period of time at the venue.
Dempsey hasn't been slacking off in between though with namely two World Championships on the agenda plus a brief trip to Miami for the first World Cup regatta of 2012.
He didn't enjoy the first World Championships in Australia in December, finishing 13th, but gold in Florida preceded silver at the second global gathering in Cadiz last month.
And so Dempsey moves onto Weymouth buoyed by his start to Olympic year, but with his rivals allowed to pass through Dorset as they please, what his plans are only he knows.
"I am massively excited about the summer and being back in Weymouth and training on the water and training specifically for the Olympics," said Dempsey.
"I am exactly where I want to be, I am by no means peaking for this time of year. The target is definitely to do that in the summer.
"I've had a fantastic start to the year and the result at the worlds was pretty massive, I had one other event before that, and training had gone reasonably well beforehand.
"But as for what I am working on now I am back in Weymouth - I know it and that is that really. I haven't really been solely based in Weymouth since October.
"I still know the venue like the back of my hand but you can never know it too well and I know a few of my rivals will be coming out to Weymouth.
"It is a free world and they can come and go as they please. They can look around and spend as much time as they want on the water, we'll just have to wait and see come the summer."
What Dempsey has revealed though is that he is likely to compete in just one event before this summer's Olympics - the Skandia Sail for Gold Regatta in Weymouth in June.
And, having come within a whisker of a second world title in Cadiz before light winds cancelled the medal race, Dempsey was reminded of what is possible at the Olympics.
"Finishing before the medal race at the worlds was a little bit frustrating but I know I am going to be in there fighting come the Olympics," added Dempsey - who won bronze at the Athens Games in 2004.
"I have had a great start to the year and it was great to be in and around the top at the worlds. The summer is where it counts and I know there are still plenty of gains to be made."