I can't have MTOY at all. He's had more than enough chances, and he's come up short every time.
MTOY's record at the Festival reads 2nd in a Supreme, and 2nd twice in two Champion Hurdles, so the "more than enough chances" bit seems a little strong to me, Paul. Any other horse with that kind of record, that was 33/1 in a wide-open race, would command a little more respect than you're affording this horse, and I think you judge him a little too harshly.
Other than that, I know exactly where you're coming from. Every time he has met genuine Grade 1 performers, he has been beaten......though it's been his constitution, not his talent, that have held him back (imo). Really good horses get him at it, and as soon as he comes off the bridle, he doesn't want to know.
In my view, this Champion Hurdle contains - at best - some low-level G1 hurdlers. Chances are one or two might travel better than him, and chances are some are strong enough stayers to worry him out of things late on, but I can certainly see MTOY travelling amongst the best of them, deep into the race. Given that there are any amount of horses who will either want to (or need to) make the pace, I don't think MTOY will necessarily need to be sacrificed, to improve the chances of Yanworth or Buveur D'Air. The two mares will need to race prominently, as will Tombstone and Footpad, and Yanworth and TNO would probably want to be handy too (though I doubt they will). I think there will be sufficient pace anyway, and MTOY can probably sit off it alongside Bueveur D'Air, for most of the race.
It's all a bit pie-in-the-sky, but it's worth a roll of the dice at current odds. I've taken 13/2 in the place market, and had a small play at 38 in the Win market. For the first time in a long time, I really don't have much interest in who actually wins the race, and these bets should be seen for what they are - the musings of someone who really doesn't have a strong opinion on anything. They are certainly not recommendations (and I suspect DO feels the same).