THERE is a famous psychological test – called the Rorschach test – in which participants are shown inkblots and asked to describe what they represent. You see a duck where I see a rabbit, and one of us receives a tick in the “potential psychopath” box.

The horse racing equivalent seems to be last Saturday’s Paddy Power Cotswold Chase, won by Santini impressively, or unimpressively, from Bristol De Mai, who should have won, or should not have won, depending on your interpretation.

On the back of the win, Santini shortened in the betting for the Gold Cup at Cheltenham, but not by much. It is one of the “beauties” of the sport that you can make a reasonable case for either extreme and all that lies in between.

I tend towards a more positive interpretation, and think that Santini remains somewhat overpriced for chasing’s blue riband.

Formidable

Bristol De Mai is a formidable chaser when on form, and the large margins back to Top Ville Ben and De Rasher Counter, with two other smart chasers forced into being pulled up, very much suggest he was on form here.

He got the third last wrong, handing the initiative to Santini, but the latter was forging away at the end as Bristol De Mai’s stamina began to give out.

Time analysis is slightly tricky. Strictly speaking, the overall time does not look especially good, but the Cotswold Chase was the only race over fences at beyond two and a half miles and may deserve a different going allowance to the others.

Sectionals have the leaders about 10 lengths slower than par early in the race, but that was soon made up, and the late splits are consistent with this being a good test on ground that was close to being “heavy” judged on times (which take into account some significant increases in advertised race distances).

Santini’s time from three out (half a mile from home) was 63.6s, or a finishing speed 101.9% of his average race speed, Bristol De Mai’s was 64.5s (100.7%), Top Ville Ben’s was 71.1s (93.0%) and De Rasher Counter’s was 71.2s (92.8%).

The last two paid for trying to match it with superior rivals, and can be rated closer, but not a lot closer.

I have Santini on 173 and Bristol De Mai back on 171, including a small upgrade for sectionals, which has the former the best staying chaser around (just ahead of Clan Des Obeaux on 171, Kemboy on 170 and Al Boum Photo on 169).

Such a figure is hardly unexpected given how well Santini shaped as a novice last term.

Whether Santini’s form in the Cotswold Chase is a rabbit, a duck, or perhaps simply a turkey, remains to be seen but he is now carrying a bit of my money for the big event in March.