Couldn't agree more, but you miss out on so much if you block out the emotion.
The only way I can get the best of both worlds is to maintain 2 banks - one is my 'serious' bank, and the other (much smaller) is my 'fun' bank. I use the fun bank to back hunches, horses I just like, etc.. Stangely, I get as much satisfaction from my fun bets as I do from the much more substantial 'real' bets.
You need real discipline to successfully keep the 2 seperate.
What I'm trying to say is, don't just be a punting robot - racing offers heaps more in drama, legends, folklore, that is worthwhile in its own right.
Make money, but enjoy the show too.

Bomber