I'd say that times are one of the most over rated factors when it comes to assessing the chances of a horse in a race.

Too many horses run great times winning then run poorly at their subesequent starts. For example, who holds the Flemington track record for 1200m?....Iglesia. How has that gone since the record breaking effort? I wonder how many punters did their money on Iglesia following the Flemington win?

You want proof that times don't matter?

Get your form guide next weekend and look for the horse who ran either the fastest sectionals or overall time over the distance of that race. Go back several starts if you have to. Circle that horse together with any that have run a class/track/race record in their exposed form (Sportsman is pretty good for that). See how they go. Thousands of punters look for this every week - they lose.

Times do not fall within the top 6 factors to consider when analysing race form. (in my humble opinion)

Privateer