Gig was originally a Darley horse in Australia before being sold at a dispersal sale.
She has run in some high-class races, finishing third in the Edward Manifold Stakes and was just 1.9 lengths away from Temple Of Boom in sixth place in Moonee Valley's William Reid Stakes earlier this year.
"At her best she'd clearly be very competitive here, but my assessment is she is not," says Busuttin.
The Cambridge horseman is hoping his judgment is closer to the mark than last weekend when he told the syndicate that owns stylish winner Listowel he believed the filly mighty not be quite ready to win after three months away from the track.
"I wasn't the most popular bloke at the track when she won," he said yesterday.
"I had to keep joking with them with: 'Stop your moaning, at least you've got a good filly'."
Busuttin and training partner Natalie Young have an opinion of Listowel.
"We think she will run over ground and if her form continues to justify it she will head towards the Oaks, like a lot of fillies," said Busuttin.
Nominations for Friday are as good or better than in recent years.
The $200,000 Zabeel Classic has drawn a competitive field, headed by proven group one performers Veyron, Fay Fay and Shuka and including stylish recent graduates in Ponderosa Miss and Sports Illustrated.
Tavy and Darci's Dream head up the $100,000 Eight Carat Classic and Kawi and Huka Eagle are among the stars in the supporting races.
The Ellerslie track should be perfect for Friday. Yesterday it was a dead (6), because of Auckland's recent rain, a much better method of applying water than irrigation.
Former Pukekohe jockey Jason Collett is returning from Sydney to ride at Friday's meeting and there are suggestions James McDonald could be at Ellerslie for January 1.