Brian O'Connor

Racing Correspondent

Europe's first Group One of the year for two-year-olds, tomorrow's Waterford Wedgwood Phoenix Stakes, looks to boil down to one question: is Three Valleys really as good as he looked at Royal Ascot?

If he is, then the opposition might as well not show up at the Curragh because that eight-length Coventry Stakes annihilation had onlookers scrambling for legendary names like Mill Reef and Arazi for comparison.

A new juvenile course record, a top-rate pedigree and proclamations of "exceptional" from his trainer and it's no wonder the English star tops the market for next year's 2,000 Guineas.

What's more, Roger Charlton was yesterday showing no willingness to dampen any expectations and reported: "He is very exciting. Tamarisk was a good two-year-old but Three Valleys is better. He is the best two-year-old I have had."

Up against the hot favourite are a quartet of Ballydoyle colts, including the one that looks by far the best of the Aidan O'Brien juvenile team seen out so far.

One Cool Cat had O'Brien reaching for his own superlatives after a smooth Anglesey Stakes success and while the manner of it wasn't as scintillating as Three Valleys in the Coventry there is no doubting the regard with which the $3.1 million colt is regarded.

"He hasn't done a lot since the last day but he is in good form and his last race should have done him a lot of good," said O'Brien yesterday.

In pursuit of a sixth success in a row in the race, O'Brien will take some heart from the subsequent form of those that ran behind Three Valleys at Ascot. Privy Seal beat Wathab in a Listed at Leopardstown but the majority haven't hit the scoreboard.

More important is how dangerous it can be to hype a horse on the basis of just one run.

Three Valleys is almost sure to be odds-on tomorrow, allowing One Cool Cat to start at a price few would have imagined he would be in any race this season after his last appearance.

That had O'Brien describing him as a "stunner." He may have to come up with something new after 3.55 tomorrow.

Of course, the Ballydoyle focus won't be just on One Cool Cat's potential but also on the return of High Chaparral in the Royal Whip.

The double-Derby and Breeders Cup winner is the real deal and although recovered from the shoulder problems that have delayed his four-year-old career, O'Brien is determined to keep it low key for the moment, with no talk of the Arc de Triomphe or a return to America.

"All we're hoping for is that he runs well and comes back sound so we can train him for another day. We're not looking at anything else," he said.

A peak form High Chaparral would kick this opposition out of the way and while he is far from at a peak, the colt has enough latent class to still make him a winner on the way to bigger and better.

Two cross-channel trained fillies line up for the Debutante Stakes and the Barry Hills trained Lucky Pipit looks the one to take the prize overseas.

This one was a most impressive five-length winner of a Listed at Sandown and her front running performance indicated a filly very much on the up. Lucky Pipit could have too many guns this time for the Galway winner Takrice and Necklace from Ballydoyle.

The Greenlands winner Miss Emma returns in the Group 3 Sprint after two months on the sidelines. On the rating she has a first rate chance but Orientor could make them all go from a good draw.