The Swans limped into the 2007 finals and lost to Collingwood by 38 points in the second elimination final at the MCG.
They face another elimination final on Saturday night but this time it is at home [ANZ Stadium] against North Melbourne.
And O'Keefe said the Swans of 2008 felt much more invigorated than they did a year ago.
"We've got a lot of energy and there is a vast difference to last year," O'Keefe said on Thursday.
"Last season at this stage we were probably coming into the finals pretty flat but this year it is definitely not the case at all."
O'Keefe, 27, is a veteran of a number of finals campaigns at the Swans, the highlight being the 2005 premiership.
The North Melbourne clash begins the Swans' sixth consecutive finals series, a rarity in modern football with the draft and salary cap making the competition more even.
O'Keefe was hopeful that this 'top-end' experience would help some of the younger players making their finals debut.
"Experience is something you can't buy and (in finals footy) the game changes, intensity lifts and most of us have played it and hopefully that holds us in good stead," he said.
"We do have a lot of guys who haven't played finals footy as well, so it'll be a good experience for them.
"It is just another game even though the intensity is stepped up and the intensity is higher but you've just got to make sure you stick to your basics and do what you've been doing well all year and not get caught up in the whole emotion of it.
"But I'm quite confident our younger guys can follow the lead of the older guys."
O'Keefe said six finals series in a row was a great achievement for the club and coach Paul Roos. "It's something to be proud of playing in six in a row. Hopefully we can now make another grand final," O'Keefe said.
But O'Keefe warned that North's tall forwards could be a crucial factor on Saturday night.
"They've got a lot of marking keys and they've all been in pretty good form this year," he said.
"So we've just got to make sure we stop the supply and make sure our midfield gets on top and gets it going forward our way."
North Melbourne's forward structure features former Swan Shannon Grant alongside a taller trio of David Hale, Corey Jones and Drew Petrie.
And complementing them are exciting crumbing forwards Lindsay Thomas and Matt Campbell.
"Our defenders played well last week against (Daniel) Bradshaw and (Jonathan) Brown and so they'll have to continue that form," O'Keefe said.
And he rejected the idea that North not having ever played on ANZ stadium gave the Swans any advantage.
"It's a footy ground... four posts at each end," O'Keefe said.
