With 40 days to go until the 2010 Kentucky Derby, it’s time to take another look at the top contenders and see if we can make any sense of things.  The past weekend saw the emergence of a long awaited true closer in Ice Box with his victory in the Grade 1 Florida Derby over the likes of Rule and Lentenor.  We also saw D’Funnybone do his thing at the 7 furlong distance, and while it’s always fun to watch him at work, the word on the street for now is that the Preakness would be his likely destination this May.

To be honest, there isn’t a whole lot of change from last week’s rankings.  The top 4 horses, in my opinion, appear to be a notch above the rest.  Positions 5 through 10 are where the real arguments seem to be.  There’s probably a good dozen or more runners one could consider for those spots, and certainly there will be more in the next couple of weeks.

For now, doing our best Steve Haskin impression, here’s where we stand on the matter:

• #1 Odysseus

No surprises here.  The big red colt who began his Kentucky Derby Odyssey in relative obscurity and burst onto the scene with a heroic effort against Schoolyard Dreams in the Grade 3 Tampa Bay Derby.  The only real question now is what they’ll do with him over the next 7 weeks.  Rumors fly around that he may be “trained up” to the Derby, although the Arkansas Derby and the Toyota Bluegrass have been mentioned as possibilities (so was the Wood at one point).  From the moment we first noticed him,  the similarities have been apparent between he and another big red colt that many of us developed strong affections for.  He could be entering the Derby even greener than Curlin was – which isn’t a good thing.  I won’t argue with those that have him ranked lower.  This is my horse, and I’m sticking with him through thick and thin.  Even if the Preakness might be a wiser, (slightly) longer term goal.

• #2 Eskendereya

The  horse most likely to be found atop other Derby watch lists, and for good reason.  The son of Giant’s Causeway absolutely dominated competition in the Grade 2 Fountain of Youth Stakes.  Two of the horses he thrashed; Ice Box and Pleasant Prince, came back to finish 1st and 2nd in the Grade 1 Florida Derby this past weekend.  The colt gives trainer Todd Pletcher arguably his best chance at a Kentucky Derby in years.  Will likely be the favorite in the Grade 1 Wood Memorial at Aqueduct on April 3.

• #3 Lookin at Lucky

Classy son of Smart Strike (aren’t they all?) who overcame a trip from hell to win the Grade 2 Rebel at Oaklawn Park.  Oaklawn has been the launching point of numerous 3-year-olds in recent seasons, including Curlin in 2007 and Rachel Alexandra in 2008.  Baffert’s decision to ship the colt east to get a true dirt prep race was a sure sign of confidence, and Lucky delivered on that gamble.  This colt seems to have all the tools to be a Derby winner and more.  Up next could be the Arkansas Derby on 4/10 at Oaklawn.

• #4 Awesome Act

Impressive looking son of Awesome Again has a potential showdown brewing with fellow top contender Eskendereya in the Grade 1 Wood Memorial at Aqueduct on April 3.  The Gotham winner trained overseas in England for much of his career and was publicly dismissed by yours truly prior to his North American debut victory.  I learned my lesson.  Hopefully anyone else that thought like me has also learned.  He’ll be up against it facing Esky and the Wood field, but this colt passes the eye test for sure and could still wind up being the best of the bunch.  He’s my 2nd favorite horse on this list (behind my obvious super-fave).  If Odysseus is my Curlin, I guess that makes Awesome Act my Hard Spun.

How awesome is Awesome Act?  Well, he’s awesome – there’s no doubt of that, but nothing can be as awesome as this:

• #5 Ice Box

Win a Grade 1 prep race AND show that you can come off the pace doing so?  Say hello to the top 5 Ice Box.  It’s noteworthy that he was crushed by Eskendereya in the Fountain of Youth, but he never really got a chance to get uncorked in that race.  If the Derby winds up with anywhere near as much speed as it looks thus far, this guy would have to be considered a player on pace alone.  He’s got one other thing working in his corner as well; trainer Nick Zito.

• #6 Discreetly Mine

Risen star winner might be a forgotten horse by some.  He knocked off Tempted to Tapit, Drosselmeyer, and Ron the Greek in that Risen Star victory, 3 horses I consider to be decent opponents.  I continue to question whether this horse will actually want to go 10 furlongs come the first Saturday in May, but if he can, and if he can relax quite a bit, he’d suddenly be a lot more interesting.  Likely headed to the Arkansas Derby on 4/10.

• #7 Conveyance

Someone has to get our “Rodney Dangerfield award” this week, and though he doesn’t technically fall in our rankings, he’s as good a candidate as any to nominate for getting no respect.  Of course he’s also unbeaten, which means he’s an honorary recipient of our weekly Cris Carter award for being an “all he does is win horse races” type of runner.  Baffert is reportedly keeping him on target for the Sunland Park Derby this weekend.  You might remember that race from last year thanks to a little horse named Mine That Bird.

• #8 Sidney’s Candy

I continue to question whether this horse can get the distance – especially if seriously challenged – but at the end of the day the son of Candy Ride is the San Felipe winner and did defeat Caracortado and Interactif in that race (despite setting easy early fractions).  As I’ve said from the start, could still be any kind of horse when all is said and done.  We’ll find out more in the Santa Anita Derby on 4/3.

• #9 Interactif

While I loved this colt’s move in the San Felipe when he came charging for Sidney’s Candy late in the race, I’m still not certain this is a legitimate Kentucky Derby horse.  So far he’s proven over turf and synthetics, and usually that bodes well for a horse’s prospects at also being versatile enough to run strongly on dirt, but wouldn’t you rather know that going into the first Saturday in May?  Stays on the list for now, but like the others has serious questions to be answered.

• #10 Noble’s Promise

I toyed with ranking Schoolyard Dreams, Pleasant Prince, or even Caracortado here, but ultimately thought it was Noble’s Promise who deserved the ranking based on merit.  I’m troubled that the horse has a knack for finishing just behind the winners, but it’s important to note he was just a head behind the highly regarded ‘Lucky in the Rebel and just a 1/2 length behind Vale of York in the Breeders’ Cup Juvenile.  Likely pointing to the Arkansas Derby on 4/10.

Honorable Mention:

The list of other horses we’re keeping our eye on is nearly unending, but some noteworthy names we haven’t given up on yet and would not be surprised to see move forward again would include (in no particular order):

• Connemara
• Schoolyard Dreams
• Pleasant Prince
• Dublin
• Super Saver
• Rule
• Drosselmeyer
• Jackson Bend
• Tempted to Tapit
• Caracortado

Up next are the Lane’s End, the Louisiana Derby, and the Sunland Derby.  Check back later in the week for coverage and selections for each race.  Until then, may the horse be with you.