KEY POINTS:
A New Zealander caused the first big upset on Melbourne Cup day by taking out the top prize in the fashion stakes.
Under a sweltering sun, Lorraine Cookson beat a field of homegrown glamour to be named winner of the 2007 Myer Fashions on the Field, with a classic ivory silk skirt and grey jacket and hat.
And there were strong New Zealand connections with the winner of the big race.
The win of Efficient in the $6 million race was the third by Sir Patrick Hogan's sire Zabeel.
Jezabeel (1998) and Might And Power (1997) were also by Zabeel, whose record eclipsed his own father, super sire Sir Tristram.
Sir Tristram, who once held the world record for most individual group-one winners, won the Melbourne Cup with Empire Rose (1988) and Gurner's Lane (1982).
"Five [Melbourne Cups] out of the last 25 years for father and son is just unbelievable," Sir Patrick said .
Seventy five per cent of Efficient is owned by Melbourne businessman Lloyd Williams, the previous owner of the plush Crown Casino.
The other quarter of Efficient belongs to the original New Zealand owners, who retained a share when trainer Graeme Rogerson sold the majority shareholding to Williams.
The race itself nearly cost Efficient's jockey his winning chance.
Michael Rodd said he got a huge fright mid-race: "We got shunted up the backside so hard down the back straight I thought for a moment the game was over. I felt so sick about it I literally thought I was going to vomit."
Rodd had time to reflect on his old boss, who cancelled his builders' apprenticeship nine years ago because he wasn't strong enough to carry the timber.
"Go and be a jockey," his boss said - the best bit of advice Rodd will ever receive.
- AAP