Full-back Murphy and wing Cueto will make their Lions Test bows in a reshaped back division that also sees Stephen Jones replacing fly-half Jonny Wilkinson and Will Greenwood taking over from centre Gavin Henson.
Henson and Wilkinson are both suffering from so-called 'stingers' in their shoulder/neck areas, while a list of other players who couldn't be considered because of injuries include Charlie Hodgson, Ben Kay, Simon Shaw and Gordon D'Arcy.
New Zealand haven't escaped injury-free though, with influential trio Dan Carter, Aaron Mauger and Richie McCaw all absent.
All Blacks coach Graham Henry has been forced to shuffle his cards as a result, with Luke McAlister featuring at number 10, skipper Tana Umaga moved to inside centre alongside Conrad Smith and Rodney So'oialo lining up at openside flanker instead of number eight.
Even allowing for those enforced alterations though, the All Blacks are favourites to win and complete a clean sweep.
"It is going to be a big ask to play a team like the All Blacks in a Test arena like Eden Park," said Murphy.
"I wouldn't say there is nothing to lose for the Lions players. We are playing against a very strong side, and there is a lot of pride at stake.
"I have admired the way the All Blacks are playing. I haven't seen such a fantastic performance as theirs in the second Test for quite some time - they were awesome."
Lions boss Sir Clive Woodward has omitted wings Jason Robinson and Shane Williams, and Cueto is determined to seize the moment after waiting patiently for his chance.
"No-one can expect to be on that team-sheet, you've got to earn it and work for it," he said.
"To be selected is fantastic, the pinnacle of any rugby player's career, and it is no different for me. It is going to be a special occasion."
Cueto, who has scored eight tries in eight Tests for England, wants the Lions backs to show their capabilities in a series so far dominated by New Zealand's attacking glitterati.
"A lot of credit must go to the All Blacks," he added. "They have been absolutely outstanding, and it has been brilliant to be able to watch them play such good rugby. From our point of view, I think we can learn a lot from them.
"But we've got the ability, we've got the talent out there - the game-breakers - in our backs to do the same. We've got to go out with the mentality we can do that, and we will do that.
"Generally, we've not got as much ball as we would have liked, but that is testament to how good the All Blacks have been. Hopefully, we can change things around this weekend, get a bit of decent ball and show what we can do."