"Horses are the same as human beings where condition is the test of superiority. Winners repeat frequently while the defeated are apt to be defeated almost continuously. Condition has more to do with a horse winning or losing a race than the weight it carries. A horse in poor condition cannot beat one of his own class. A high class horse could not win a race with a feather on his back if he is not in condition.
It is as well to play horses that are in winning form. A horse in winning condition generally repeats or runs into the money. Different tracks cause decided changes in form frequently. Study horses' whims and fancies for certain tracks and you will see a good lay; but a high class horse will do his best on any track."
No matter any existing advantage whether Class or otherwise, a horse which is not in top Current Form today, will be vulnerable of losing to another horse; if the other horse will be running at peak form.
Here we point to one of the greatest "Class" horses ever, and possibly the greatest we will ever see in our lifetimes, Zenyatta, the queen; who did everything EVER asked of her with a dance and a smile - true Thoroughbred Class.
There is no possible way Blame could have beaten Zenyatta, unless as was the case, he had been pointing towards the race, was cranked to the utmost, perfectly timed to reach the peak of his form cycle in that Breeder's Cup race.
However, aside from the fact that Blame benefitted from having the best rider in the universe Garret Gomez aboard, who pulled all the right strings at all the right moments, emerging in the right place at the right time to put away the Baffert entry while coming home (in hand); executing a brilliant ride, while Blame basically held on for dear life those final 300 yds.
It is therefore imperative for handicappers to be informed regarding the Current Form of each horse in a race. What is the trainer's intent? Has the horse been pointed to this race? Is this race a tune up? The best horse does not always win every race, in fact, it probably won't win if unsound, unfit, out-of-form or just doesn't feel well today.