Reach for the aspirin because this Gold Cup is a headache just waiting to happen.

Rarely has steeplechasing's most important race been more open. The home camp are split between the title-holder Looks Like Trouble, the hugely-hyped Best Mate and Bacchanal, who is reputed to have the best engine of the lot.

Owned by Mrs Andrew Lloyd Webber, Bacchanal is a former Stayers' Hurdle champion who did, indeed, look something of a machine when winning at Newbury last time.

However, the "if" with him is his jumping and the Gold Cup is not a race to have such a query in. Bacchanal jumped persistently to his right at Newbury and he will hardly get away with such waywardness in this.

Looks Like Trouble was a totally convincing Gold Cup winner two years ago and has returned from leg trouble in some style. Noel Chance's record in the race is remarkable and his confidence in the horse is absolute. But that history of leg problems will always be a niggling doubt.

Even so, Looks Like Trouble is the proven article compared to Best Mate. Long on reputation but comparatively short on achievement, Best Mate is also unproven over the trip.

The home team's supposed second string is pretty formidable too. Behrajan, Marlborough and Lord Noelie can all have cases made for them.

There are six in the Irish squad headed by the Willie Mullins duo. Commanche Court and Foxchapel King have each-way shouts but the Frances Crowley pair are hard to fancy. Which leaves Florida Pearl and Alexander Banquet.

Laying up with the pace could be the latter's problem, staying with it in the closing stages is Florida Pearl's.

There are those who say Florida Pearl cannot climb the hill but without Looks Like Trouble two years ago he would have got up it faster than anyone else.

He comes here in the form of his life according to Mullins and is such a class operator that at general ante-post odds of 12 to 1, he looks a knocking each-way bet. It might just pay to keep the faith with Florida Pearl just one more time.

But for most of the Irish at Cheltenham, the bet of the day will be Bannow Bay in the Bonusprint Stayers' Hurdle. The Christy Roche-trained runner has had his light slightly hidden under Limestone Lad's bushel but he now looks to have a cracking chance of establishing himself as the top stayer in Europe.

The major obstacle is Baracouda, but the French star is terrible value at the odds, having beaten very little in Britain this season.

In contrast, Bannow Bay has a defeat of Limestone Lad to his credit, comes here on the back of an ideal preparation and in Charlie Swan he has the ideal big race pilot. It's usually dangerous to dismiss the rest as no-hopers but this does look poised to end up as a Bannow Bay-Baracouda clash and the edge looks to be with the Irish horse.

The JCB Triumph Hurdle is its usual wide-open affair but when the going gets tough down the hill there will be few better able for it than Heezapistol, who could reward an each-way interest.

Sheltering and Joe Blake give the Irish a strong shout in the Christie's Foxhunters but preference is for what should be the best of the home horses, Horus.

This one established himself as something of a star on the point-to-point fields and came inside the flags for a good defeat of Troduff Express at Wincanton last month. Experience should not be a problem and Horus looks a bet.

Lady Cricket's inclusion in the Grand Annual means Dark'N Sharp is a worrying 6lb out of the handicap proper for what is the oldest race in the chasing calendar.

It's still possible to fancy the Richard Phillips-trained runner, though, on the basis that he looks the potential improver in the race. The race is also likely to be run at a cut-throat pace which will suit Dark'N Sharp and Richard Johnson should be able to deliver a late challenge.

The Vincent O'Brien County Hurdle, the "get out" race, has a tradition for difficulty that the last three renewals have rebelled against. Favourites have won the last three but it's still hard to call this one. Mick Fitzgerald's presence on the long absent Dark Shell could be significant.

Tony Martin runs the Irish National winner Davids Lad in the Cathcart, but the Aintree hope could be run out of it by the likely favourite Royal Auclair.

Willie Mullins interview on facing page.