Paul,
There were 287 runners in all races across the Eastern states, spread over 25 races, of which there were 152 horses on the first 5 lines of betting in Fri's Courier Mail.
Couldn't tell you if a profit was made on them, but I somehow doubt it.
I tend to use it as an initial filter for cutting down on form study time.
As you can see, it cuts out roughly 1/2 to 1/3 of the runners for a typical Sat. Which equates to a considerable saving of my very limited time.
The theory being that if they are any further down the order of the Pre Post market you wouldn't back them anyway.
It seems to throw up around the 80 odd % of winners, but narrowing it down futher than that is the trick (that I have not, as yet, mastered)
PPM is, really a question for Partypooper, as that is his baby.