The racing has been tremendous this week, but I think it is fair to say the atmosphere isn't quite what it was.
Don't get me wrong: the Cheltenham roar is still very much intact, but the place doesn't quite have thebuzz it used to. I could be wrong because this is a circumstantial argument, but, if I'm right, we all know the reason.
These are troubled times economically. During the preceding years of overspend, people developed a disconnect withtheir money. But man has an uneasy relationship with his money; at once, it is both his master and servant.
Last night, I was talking to a friend of mine who was similarly exhausted after spending the best part of the day hunched overa laptop. But we made the point that having a job at all in the current climate is a true blessing.
We met a couple of guys who had come over from Ireland for the week. They detailed how much it had cost them and how they didn't really have the money to be spending such a large amount for just four days of entertainment.
I found the whole thing really moving. I mean, people love racing so much, particularly in Ireland, and deep down they know that justifying the expense involved in the annual pilgrimmage to Cheltenham is hard to do.
I'll be honest now: I started to get a bit angry on their behalf about the whole four-day thing. I really did.
I don't want to upset anyone at Cheltenham, as the decision to switch the Festival to four days is one which can be easily justified from their standpoint. If I were on their race committee, I might have voted in favour too.
But those were different times. Look, you can say that the four days creates 33% more jobs for the army of casual workers employed in and around the Festival. I understand that.
And people don't have to come for all four days. They can still come for three.
But that is only my logic speaking. My experience tells me that people will come for four because they don't want to miss out. If you are going to spend thousands of euros travelling from Ireland, you want the hollistic experience of the Festival; you don't want to tell people you went to Cheltenham and missed the Champion Hurdle.
And this would have been a significant factor in the minds of the people who made the decision to go to a four-day Festival.
They knew the bond between racing fans and the meeting. But they may have been mistaken how strong those bonds would be in different times. Times like these, in fact.
The crowd figures are down by 5% this year which isn't a bad figure at all considering. Indeed, it says a lot about the appeal of the Festival and how well it has been run and promoted.
But I believe there is a chance that the drop-off could be exponential. In other words, though only slightly fewer people go, I believe their decision will affect the thinking of far more when it comes to attending again next year.
In summation, I believe the decision to attend a future Cheltenham Festival for those who find the expense not inconsiderable will be modulated by two factors:
a) Everyone begins to know someone who decided not to go to the 2009 Festival on economic grounds. This makes them think harder about their own decision in 2010.
b) People begin to perceive that the event isn't quite so crucial as had been previously perceived. This makes them think about the decision for the first time; previously they had attended almost through hard-wiring, the herd instinct with which human behaviour is profoundly influenced. And this makes them consider whether they can truly justify the expense to themselves and their family.
I certainly hope that the above is invalid; it is conjecture on my part and I am always open to the other side of the argument.
But this alone I will never change my mind about, particularly after meeting thoe two guys:
The Festival would certainly be no worse, if it were conducted over three days. And it is likely that it would be somewhat better.
Given that it would certainly be cheaper for the thousands upon whose genuine love it depends, it should go back to three days.
As I say, I would certainly be interested to hear your views on this matter, particularly in the counter argument.