Conformation is obviously important, because a horse that isn't built right is more likely to break down. But conformation alone can't tell you whether the animal's biochemistry is compatable with racing. I have seen some beautiful Thoroughbred show horses descending through unsuccessful racing lines. They make gorgeous show animals, many are competetive jumpers, but they simply do not have what it takes to make a racehorse. The page can only tell you that a horse comes from successful racing stock. It can't tell you whether that horse will be successful himself. For that, you have to look deeper into the pedigree. You have to take genetic recombination into account and that means you either have to know a little something about recombination, or be willing to pay someone else to know for you.
A pre-purchase pedigree analysis doesn't cost much, but it has saved some of my clients hundreds of thousands of dollars in wasted money. Money that would have been spent on "marketable" horses with great pages in the catalog, but without the pedigree patterns to make them a successful racer. Over and over again, I've pointed people to a less marketable horse (which they pay less for, invariably) and then the more expensive horses, mostly have failed to pay back even their purchase price for those who bought them, much less training fees, while the lesser horse goes out and does his job.
I put them all on my virtual stable when I can find out what they end up being named. Usually, if you look at progeny on this pedigree query, eventually their name will pop up as being out of that mare that year, by that stallion. It's easy to track them through the pedigree query and I love that part of this site.
With the prices of horses at the sale going up and so many of them being bred to break down, more buyers are getting savvy and getting analyses done by pedigree analysts, like myself, competent veterinarians they know they can trust (their own), and they're learning to check out the bloodstock agents they are dealing with to see who's getting commissions for horses that are sold through the sale.
And just to give you an idea of what can happen when someone knows what they're doing, breeding a little homebred here and there, you should check out the website for a horse here in Texas named Hi Teck Man.
He's a homebred earner of over $300,000. By a catalog page, you would never spot him, but if you scroll down on the site's mainpage, you can click on a link to look at the pedigree analysis his owner had done for the horse. You can see why he ran like he did in that analysis. Check it out.
www.hiteckman.com
I'm really proud of that analysis. I don't own the horse or have any monetary interest in him, but I like for people to see the analysis and then they understand how this horse could be produced and run like he did by a home based breeder in Texas. That little stud outran a lot of expensive sale babies!