On paper, Sydney's flagship horse race is a simple 1200m sprint at Rosehill to determine Australia's fastest two-year-old.

But there is always so much more at stake in the $3.5m Golden Slipper than just the result of a 70-second dash on Sydney's greatest race day.

It's one of the world's most intriguing horse races, and Saturday's 56th renewal of the event proves to be no different.

Running well in a Slipper is career defining, both as a race horse and in retirement. It's a stallion defining race, past winners of which include Canny Lad, Flying Spur, Stratum and more recently Sebring, whose first crop of yearlings are now up for sale.

But it is often the peak of a race horse's career, and has burned out numerous two-year-olds since its inception. Plenty of Slipper champions never win another race, while many Slipper runners are a spent force before they're even three years old, having raced well before their bones were fully developed.

Last year's Slipper, won brilliantly by Peter Snowden's Sepoy, was a career-defining race. Nine runners, including Sepoy have gone on to win again, and three of those horses have tasted Group 1 success. Smart Missile, who was scratched at the barriers, also returned to win a race in the spring.

Indeed, the Golden Slipper class of 2011 produced one of the strongest batch of graduates the historic race has seen.

1st – SEPOY

Stalked the leaders in last year's Slipper and his class emerged down the straight when he surged clear to win for Peter Snowden. Was instantly spelled before an unbeaten spring campaign which landed him five wins including Group 1 triumph in the Manikato Stakes (1200m) at Moonee Valley and the Coolmore Stud Stakes (1200m) at Flemington. Sepoy resumed this year to run a gutsy fifth in the Group 1 Oakleigh Plate in February before going to Dubai where he could only manage 10thin the $2m Golden Shaheen (1200m).

BEST RUN SINCE THE SLIPPER: His Manikato Stakes victory was stunning on a slow track where he was far too good for Sister Madly and More Joyous.

2nd – MOSHEEN

Jumped as a 100-1 shot in the Slipper but was far better than that, settling off the pace and chasing Sepoy right to the line. Had a mixed spring campaign which included wins in the Edward Manifold Stakes (1600m) and a nine-length demolition in the Group 1 Crown Oaks (2400m), plus a second placing to Atlantic Jewel in the Group 1 Thousand Guineas [1600m]. But Mosheen saved her best for the autumn, where she's already tasted Group 1 success in this year's Australian Guineas (1600m) and the Randwick Guineas (1600m). She'll chase a hat-trick of wins in the Vinery Stud Stakes (2000m) at Rosehill on Saturday.

BEST RUN SINCE THE SLIPPER: It's hard to go past her Australian Guineas triumph at Flemington last month where she jumped from the widest rail and still beat the boys by three lengths.

3rd – ELITE FALLS

Did what she usually does in the Slipper, drifting a long way back before rattling home to grab third spot. Went on to the Sires Produce Stakes (1400m) a week later but ran seventh and was instantly spelled. Was unplaced in the spring and is still yet to win one since the Slipper, but was only beaten a nose in the Oakleigh Plate (1100m) at Caulfield in February suggesting there is still plenty more to come.

BEST RUN SINCE THE SLIPPER: Elite Falls looked the winner in the Oakleigh Plate on Blue Diamond day until Woorim's orange blinkers flashed into view.

4th – MASTHEAD

Settled midfield in the in the Slipper and kept chasing to the line as a 50-1 favourite to grab fourth. Placed three times in the spring which included a narrow defeat in the Roman Consul Stakes (1200m) at Randwick. Masthead has since taken a vastly different route and travelled over to Singapore for the autumn which has already proven a shrewd move. He's won two from two over there.

BEST RUN SINCE THE SLIPPER: He ran well behind some handy horses in the spring, but his first run in Singapore was a ripper. He hit the lead 350m from home and pulled clear to win by five and a half lengths, instantly vindicating the decision to travel.

5th – ALTAR

The second Snowden runner in the Slipper also did the stable proud after winning the Magic Night Stakes a week before. She was tough to the line and only finished four lengths behind Sepoy. She was tipped out for a long time after that and didn't return to racing until February this year where she was fourth in the Light Fingers Stakes (1200m). Third-up last weekend Altar looked to be finding her best when a narrow second in the Darby Munro Stakes (1200m).

BEST RUN SINCE THE SLIPPER: Showed plenty of grit last Saturday to run second behind Gai Waterhouse's Hallowell Belle. There should be a nice race for her before the carnival is out.

6th – SHARED REFLECTIONS

Took a while to wind up in last year's Slipper but eventually found her stride and muscled her way into sixth. Ran fourth in the Sires Produce Stakes (1400m) a week later and was then spelled. Has only run once since for a disappointing 11th in the Group 2 Tea Rose Stakes (1500m) at Rosehill in September. Shared Reflections has trialled twice this year but is yet to be seen over the autumn.

BEST RUN SINCE THE SLIPPER: She was less than a length and a half behind Helmet in the Sires Produce last year, and Helmet went on to have a huge spring.

7th – FOXWEDGE

Was slightly disappointing in the Slipper fading late to finish in seventh. He went to the paddock and came back a very handy looking colt in the spring, winning the San Domenico Stakes (1100m) and the Group 2 Roman Consul Stakes (1200m) before running Sepoy to a head in the Coolmore Stud Stakes (1200m). Has been pretty solid this time in as well, running fourth behind Black Caviar in the Lightning Stakes (1000m), third behind Hay List in the Newmarket Handicap (1200,) and finally grabbing a Group 1 win in the William Reid Stakes (1200m) at Moonee Valley.

BEST RUN SINCE THE SLIPPER: His William Reid run was absolutely super. After being well and truly beaten by Hay List in the Newmarket, Foxwedge met him worse off at the weights but was still able to turn the tables.

8th – SALADE

Was highly fancied heading into the race after an impressive win in the Pago Pago Stakes (1200m) a week earlier, but could only manage eighth when it counted. Suffered a ligament injury after the race and was spelled for the rest of the year, and in the meantime transferred from Bart Cummings to Gwenda Markwell. Has had four runs back now but looks a shadow of his former self.

BEST RUN SINCE THE SLIPPER: After being well held in three runs back in stakes grade, Salade finally found a little bit of form running second in an open handicap at Kembla Grange two weeks ago.

9th – SATIN SHOES

Last year's Silver Slipper winner enjoyed a forward run in the Golden Slipper before fading back to ninth. Ran seven times over the spring picking up two wins including the Quezette Stakes (1100m) early on and has returned in good nick this autumn with back-to-back second placings at Group 2 level.

BEST RUN SINCE THE SLIPPER: Has won twice since, but she showed plenty of ability last weekend when running Rain Affair to less than half a length in the Challenge Stakes (1100m) at Rosehill. There could be much more to come for Satin Shoes.

10th – KARUTA QUEEN

Bolted straight to the lead in the Slipper and set a cracking pace before fading from the 300m back into 10th spot. The chestnut filly proved her doubters wrong in the spring winning twice at stakes level and running second to Black Caviar at Caulfield. Her autumn campaign this year hasn't been as fruitful, and Karuta Queen has never quite recovered from a taxing trip to Caulfield where she was spooked at the barriers before the Rubiton Stakes(1100m). Has been spelled and connections plan to try selling her as a broodmare.

BEST RUN SINCE THE SLIPPER: Won the Heritage Stakes (1100m) and the Australia Stakes (1200m) but sandwiched between those two runs was a gutsy second placing to the world's best sprinter Black Caviar in the Schillaci Stakes (1000m).

11th – RUNNING TALL

Was outclassed in the Slipper, and went on to the Champagne Stakes (1600m) where he was beaten more than 17 lengths. Unplaced in four runs over the spring, but has gone over to Singapore looking for a new lease of life and may well have found it after winning his first start there late last month.

BEST RUN SINCE THE SLIPPER: Looked a spent force over the spring, but Running Tall was too good for them on debut in Singapore two weeks ago.

12th – HOT SNITZEL

Was no match for them in the Slipper, but unlike most of his rivals from that race he kicked on over the latter part of the autumn and into the winter. He won twice before being spelled and ran second in the Group 1 TJ Smith at Eagle Farm in June. Hot Snitzel won at listed level over the spring and has come back in solid order this time in as well, beating the highly rated Manawanui first-up in the Royal Sovereign Stakes (1200m) back in February.

BEST RUN SINCE THE SLIPPER: Produced some excellent performances over the Queensland winter, but to upset the heavily backed Manawanui when resuming in the Royal Sovereign took an almighty effort.

13th – SARAMENHA

Settled well back in the Slipper and didn't make any impression in the run for home. Followed her stablemate Hot Snitzel on an extended autumn campaign which culminated in the Queensland winter carnival. Has placed three times since the Slipper, once at listed level, but no longer seems up to stakes grade.

BEST RUN SINCE THE SLIPPER: Two runs after the Slipper Saramenha floated to Doomben and finished second behind Benfica in the Hampden Stakes (1200m).

14th – EMPRESS ROCK

The Slipper was only her second career run, and it showed as she faded to finish at the tail of the field. Bart Cummings instantly spelled the filly and gave her plenty of time to mature before bringing her back in 10 months later at Caulfield in February. She placed in her first two back from the lengthy break, and has since strung together back-to-back wins at Group 2 level.

BEST RUN SINCE THE SLIPPER: Two weeks ago she thrashed them in the Group 2 Fillies Classic at Moonee Valley, kicking well clear to salute by almost four lengths. More Joyous flopped in the 2009 Slipper and didn't hit her stride until she was a three-year-old. Is Empress Rock on the cusp of a similar journey?

Scratched at barriers – SMART MISSILE

The only horse to have beaten Sepoy coming into the Slipper was sensationally scratched at the barriers after rearing up in the stalls. Was spelled instantly and came back as a three-year-old with seemingly bottomless potential after pulling off an almost impossible win in the Run to the Rose (1200m). Was beaten a head in the Group 1 Golden Rose (1400m) two weeks later before failing in two Melbourne runs. Has since been retired to stud due to problems with his fitness.

BEST RUN SINCE THE SLIPPER: He jumped as odds-on favourite in the Group 3 Run to the Rose and looked beaten 50m from the post before unleashing an explosive burst to the line to grab a narrow win. It was to be Smart Missile's last salute.

Scratched at barriers – FAST AND SEXY

Also reared up in the Slipper barriers and joined Smart Missile on the scratching heap. Ran sixth a week later in the Sires Produce Stakes (1400m) then was third in the Champagne Stakes (1600m) before spelling. Trainer Chris Waller is being very patient with the filly who has now trialled five times publicly since, but is still yet to return to racing.

BEST RUN SINCE THE SLIPPER: Fast And Sexy was strong in the Champagne Stakes over a mile, only beaten by Helmet and Pane In The Glass.