DJ, a serious question here:
Let's just say that you're right, and "yardstick" handicapping is "far too unreliable".
Presumably race "standards" are based on some algorithm where times are reviewed against ground conditions and a historical context? For example, 'A G1 chase over 3m at Kempton in Good-to-Soft should be run in xxx seconds, based on reliable historical indicators' - something like that?
If so, does it worry you that ground descriptions are probably the least reliable element in racing? Have Timeform taken the going as described at face-value, and generated their view of the KG form against standard from that - all other things being equal?
If that
is the approach, how is this any more or less sophisticated than "yardstick" handicapping, given the inherent variations in actual ground conditions that can be covered by "Good to Soft" (or any other description for that matter)?
I know Pru (and doubtless others) has long been an advocate of this approach/method, but it always comes across as somewhat superior and snooty - looking down on the hapless "yardstick handicappers" as if they believe in a flat Earth - without ever really convincing that it is any better or worse than traditional lbs-per-length handicapping.
This view is possibly a reflection of my own ignorance, and I'm consequently genuinely interested as to how these standards - and the allocation of ratings against them - are derived, so would appreciate your bringing the light.
PS. If your reply hints that I need to subscribe to Timeform for the answer, you can fuck off and I'll go back to yard (and pin) sticking.