Mark,
You missed my point so I'll type a bit slower for you. My example was a hypothetical one - a champion against a field of dogs. Group One sprints do not contain dogs. Your assertion that you don't back favourites unless they are longished priced ones in feature handicaps is a broad brush attitude which will result in you missing heaps of good overlays.
Here's another example .... 6/4 offered on the toss of a coin. Not 4/1 so you stay out. Make sense of that.