Formulae have been knocked here by a couple of people, so my question is this...

How do you suppose that ratings are formulated and bookies prices?

If it didn't work (and a lot faster) then there would be a lot of people never sleeping.

Class will not determine the winner of every race, it's just a tool. You'll never pick the winner of a maiden or class 1 based on a class rating, but when it comes to the higher grade races, it's quite a useful tool.

The original question was how do you MEASURE class.

All measurements that have more than one point of measurement require some formula.