Interestingly Chrome Prince's results have a similar trend to the ones I mentioned above for my West Aus handicapping system.

NSW TAB returns

<1400m (4000+ races)
27.97% S/R
3.19 % POT

>=1400m (3000+ races)
27.34% S/R
8.76 % POT

less winners on longer distances but better return

Taking place returns though on the same races the trend is reversed on these same races although the strike rate is still better on short ones.

<1400m
60.10% S/R
3.68 % POT

>=1400m
57.27% S/R
1.20 % POT

I'd be interested to know if Chrome's favorites do the same thing for a place.

Looks like I'd be better off betting for a place in short races and winners in the long ones.