No champion tennis player ever wants to lose a match, but if a man of Roger Federer’s stature could ever accept defeat between the painted lines, he would want to bow out of a non-Grand Slam tournament against a close friend and countryman.

On Thursday, that very scenario unfolded at the Monte Carlo Rolex Masters, as Stanislas Wawrinka scored a 6-4, 7-5 victory over Federer in an all-Swiss matchup. The third-round triumph sends the 13th-seeded Wawrinka into Friday’s quarterfinals against qualifier Andreas Beck of Germany, who upset claycourt specialist Juan Monaco in other action on Thursday. Before talking more about the meaning of Wawrinka’s accomplishment, it’s worth explaining why this particular loss shouldn’t alarm Federer or his followers.

There are a number of reasons why today’s result–which prevented the No. 2 player in the world from reaching the Monte Carlo final for the fourth straight year–shouldn’t cause panic in the camp of the newly-married man who has had an emotional rollercoaster of a year thus far. The first aspect of this match that should calm anxieties among Federer’s fan base is simple to understand: Wawrinka teamed with Federer to win an Olympic gold medal for Switzerland in doubles last August.

The 24-year-old has learned much about his craft from the 27-year-old legend with 13 Grand Slam titles. Having gone into battle together at the Beijing Olympics and at numerous Davis Cup events, Wawrinka and Federer not only know the intricacies of each other’s playing styles; they also enjoy a level of mutual respect and emotional comfort that lend a unique dynamic to head-to-head matches. After their shared moment of Olympic glory last summer, Federer and Wawrinka both played well at the U.S. Open in New York, a clear sign that the two men gained a lot of confidence and psychological refreshment from their historic achievement.

If there’s one player on the ATP Tour whom Federer won’t mind losing to in a non-slam event, it’s Wawrinka, hands down.

There are other factors that should also minimize the magnitude of Fed’s failure in Monte Carlo. It has to be noted that Federer initially planned to skip this tournament before accepting a last-minute wild card entry into the event. The lack of long-term commitment to this tournament suggested that Federer wanted to minimize strain on his back, which is still slightly frail after an injury suffered last October in the Paris Masters indoor event. It’s a point of pure speculation, but Federer might have opted to play in the event just to give his wife, Mirka Federer (yes, the former Mirka Vavrinec took her husband’s last name on their April 11 wedding day) a nice honeymoon destination.

The early exit from Monte Carlo will actually give the new husband and expectant father a chance to rest for the Rome Masters in late April. Due to the milestone events that have filled Federer’s life this year–the epic loss to Rafael Nadal in Australia, the announcement of his impending fatherhood, and marriage to his girlfriend of nine years–it’s hardly a crisis for Fed to spend a few more weeks away from the grind of regular competition. In Rome or Madrid, the Swiss superstar will want to make a deep run and gain some match experience on clay.

For now, however, a tournament Federer didn’t even plan to play in until the eleventh hour should not cause additional worries for this tennis titan. Federer already has enough on his mind at the moment. Now, to the significance of this stellar statement by Stan the Man. Wawrinka reveled in a terrific 2008 season that featured not just the Olympic gold medal with Federer, but a successful climb up the charts in the ATP singles rankings. Wawrinka began 2008 with a No. 36 ranking but then shot up to No. 9 in the world before ending the year at No. 12. Propelled by a strong spring on clay, with a semifinal showing in Barcelona and a runner-up result in Rome, Wawrinka raced up the ladder while much of the ATP Tour remained stuck in quicksand. Wawrinka reached the fourth round at both Wimbledon and the U.S. Open to cement his status as a top 15 player, a sign to his competitors that a Swiss other than Federer could be formidable in major events. A bigger reason why this particular triumph holds meaning for Wawrinka is that it might allow the second banana in Switzerland to play with a more liberated mental outlook.

Wawrinka conquered his comrade on Thursday by blasting confident forehands and backhands to the corners of the court, causing Federer to scramble for much of the match. While it’s true that Federer struggled with his forehand and serve, Wawrinka genuinely played well… well enough, at any rate, to avoid facing a break point until the second game of the second set, when Wawrinka had already broken Federer twice. Mental toughness is a huge key for Wawrinka, and by winning a tough second set in which Federer had two break points for 6-all and a tiebreak, the No. 13 seed backed up his strong start with a poised fight to the finish line. Wawrinka wavered a bit early in the second set, as Federer found rhythm for a few games, but by holding off his friend in a number of tense situations, Switzerland’s less-heralded ATP veteran has to feel immensely reaffirmed about his ability to compete on the big stage. There’s hardly any guarantee that Wawrinka will carry forward the momentum gained from this huge win, but if he can indeed maintain the level of quality he displayed against Federer, he will be able to go even deeper in Grand Slam events and other tournaments on the men’s tennis calendar. One final note puts this victory in perspective for Wawrinka. Last year’s single most disappointing “Stanis-loss” came on clay at the French Open Wawrinka, ironically enough, was on track for a quarterfinal showdown with Federer, only to blow a two-set lead in the third round against Fernando Gonzalez. After building a 7-5, 6-2 advantage, Stan’s plans unraveled, as his Chilean opponent rallied to take the final three sets, all by 6-4 scores. The past few years have certainly witnessed marked improvements in Wawrinka’s all-around game, but elite-level consistency–which is produced by strength between the ears–has still proved elusive for a man who has yet to reach a Grand Slam quarterfinal.

Only time will tell, but if Wawrinka becomes an even bigger force in men’s tennis in 2009 and beyond, this triumph over his Swiss compatriot will likely be remembered as the event that turned the tide, and allowed a solid career to blossom into a tremendous one.