Unfortunately Dan with owners (Having been one myself) many are not like you. Their horse hacks up in a handicap hurdle at Sedgefield and the first words that come out their mouths is "Cheltenham"
My trainer/friend from way back could say anything to me and thought nothing of telling me "You are just the owner shut up I'll tell you where the horse is running" Fooking Cheltenham are you on drugs?
If owner would accept, as you say, that their Jockey and in many cases to a lesser degree their trainers are the best judges of what the horses are capable of they would be a lot more successful.
Mr Ricci would be a lot more popular if he didn't talk to the media so much and when he does he should coin the phrase "I'll leave that up to Willie"
Agree Tanlic, particularly with your last point re Ricci. I'm not saying owners have to religiously hang off the trainer and jockeys words. Doesn't hurt anyone to dream a little etc but just be realistic and if your horse is outstayed over an easy 3m at Kempton that the extra at Cheltenham was always going to be questionable.
If they are still harbouring hopes then they should send him to the bowl. If he sees it out well they can weigh up Punchestown but if he has a hard race they can just plan for next season at the optimum trip. I suspect he'll end up in the Melling and that will say it all.