"His run for fourth in the Moonee Valley Cup at his last start was terrific and he drops another 2.5kgs from that run.
"We know he loves the two-mile journey and can go on any type of track, so we are thrilled he can have another crack at the race."
Fresh from attending the annual Melbourne Cup mass yesterday morning, O'Leary was quick to scotch any suggestion that Tuesday's run might be the last for the A$4.58m earner.
"We have had a talk about it but while he is going so well, we think there is a little more left in him," he said.
"As long as he pulls up sound then the target will be the Sydney autumn carnival on his home patch.
"He will tell us when he doesn't want to be there anymore, but he hasn't given us any signs of that so far and it would be something special to maybe sign off in the Sydney Cup after he won it this year."
While O'Leary is looking forward to Tuesday he is also on a high after Ladies First, the six-year-old Dylan Thomas mare he owns with wife Fiona, performed with distinction when running fifth in Saturday's Group 3 Lexus Stakes (2500m).
"She went a cracker and was making up good ground over the concluding stages," he said.
"This really was a dress rehearsal for next year as the 2019 Melbourne Cup is definitely a target for her.
"She is going to fly home now and we will set her for the Sydney Cup in the autumn.
"We talked with Allan (trainer Allan Sharrock) about the Auckland Cup in March but he thinks it might be best to concentrate on just the one main target so that will be the Sydney race."
●A Prince Of Arran has won his way through to Tuesday's Melbourne Cup and, importantly, has avoided a penalty after proving too strong in the group three Lexus Stakes at Flemington on Saturday.
Racing Victoria chief handicapper Greg Carpenter announced shortly after A Prince Of Arran claimed a Cup spot via the ballot-free race that he would not penalise the horse, meaning the Charlie Fellowes-trained stayer will drop 4.5kg to 53kg in the race on Tuesday.
Carpenter said the past two Lexus winners to go on and win the Melbourne Cup did so with light weights - Shocking in 2009 carrying just 51kg and Brew just 49kg in 2000.
For Fellowes, it was a ground-breaking victory: "That's the biggest win of my career, it's the first Group win of my career and to win on a massive day like today is huge.
Fellowes paid tribute to Kiwi Michael Walker after he partnered the horse to victory.
"I'm over the moon. He gave it a lovely ride.
"I can't believe we're in the big one on Tuesday."
MELBOURNE CUP
3200m A$7,660,000
1 X1111 Best Solution (6) 57.5 Pat Cosgrave $13.00 $4.20
2 33X43 The Cliffsofmoher (9) 56.5 Ryan Moore $16.00 $4.80
3 0X11X Magic Circle (17) 56 Corey Brown $9.00 $3.20
4 250X0 Chestnut Coat (4) 55.5 Yuga Kawada $31.00 $8.50
5 X4341 Muntahaa (13) 55.5 Jim Crowley $11.00 $3.50
6 11320 Sound Check (16) 55.5 Jordan Childs $31.00 $8.50
7 X7694 Who Shot Thebarman (18) 55.5 Ben Melham $41.00 $10.00
8 02410 Ace High (22) 55 Tye Angland $71.00 $19.00
9 X2112 Marmelo (10) 55 Hugh Bowman $16.00 $4.80
10 11114 Avilius (11) 54.5 Glyn Schofield $13.00 $4.20
11 60131 Yucatan (23) 54.5 James McDonald $5.00 $2.10
12 X5266 Auvray (1) 54 Tommy Berry $71.00 $19.00
13 65513 Finche (15) 54 Zac Purton $26.00 $7.25
14 08030 Red Cardinal (5) 54 Damien Oliver $51.00 $13.00
15 X4059 Vengeur Masque (2) 54 Patrick Moloney $61.00 $16.00
16 79401 Ventura Storm (7) 54 Mark Zahra $26.00 $7.25
17 32X31 A Prince Of Arran (20) 53 Michael Walker $17.00 $5.00
18 05770 Nakeeta (3) 53 Regan Bayliss $71.00 $19.00
19 01473 Sir Charles Road (14) 53 Dwayne Dunn $101.00 $26.00
20 X0080 Zacada (24) 53 Damian Lane $81.00 $21.00
21 0X341 Runaway (12) 52 Stephen Baster $31.00 $8.50
22 36327 Youngstar (8) 51.5 Craig Williams $16.00 $4.80
23 24112 Cross Counter (19) 51 Kerrin McEvoy $9.00 $3.20
24 22515 Rostropovich (21) 51 Wayne Lordan $26.00 $7.25
- NZ Racing Desk, Racing.com