The retired couple from Silverthorne, Colo.in the episode that was broadcast the previous week.
But when the five remaining teams ventured to Australia, they pulled up the rear and were shown the door. A taxi that failed to show played a pivotal role.
Fran, a retired accountant, and Barry, a retired physician, have been married 40 years.
"Frat Boys" Eric and Jeremy returned to the lead on the beaches of western Australia.
For details on how it all happened, click here.
It's now down to the final four teams.
Fran and Barry made their final pit stop on The Early Show Thursday,
Barry tells CBS News losing was "very frustrating. We are two competitive people. Even though we're old, we love to compete. During the race, we were all business. We were there to win and we thought we would win."
Fran says they don't think their sage worked against them but, "When it came to the sprints, we were at a total disadvantage. I was dragging Barry. The kids ran everywhere and we fast-walked."
She says they "absolutely" thought they could have won, adding, "The key to this race is broken up in thirds. One third is luck, a third physical and a third mental. The physical thing was our only weakness."
The two had been to 45 countries before taking part in the "Race," which Barry says "was much more difficult" than they anticipated. "It was very stressful and emotional. There were major ups and downs every day. It was like riding a yo-yo."
How could they top the race? "By having grandchildren," Barry laughed. "Our two kids both had babies within a six week period back in February. Our son lives in Laos and our daughter in Denmark. So we've been all over the world again in the last few weeks. Lot's of frequent flier miles!"