"Someone said it would be like a footballer running out on the field before a grand final," Barrett said.
"It's not, it's bigger, in that the whole nation stops for the race.
"To ride in the race, it's very exciting.
"It's the ultimate."
Barrett, who retired from race riding in the mid 1990s, returns home for Melbourne Cup Week each year, catching up with former colleagues.
"I'm from Melbourne and enjoy catching up with everybody, but this year the boys have conned me into working for them," he said.
With three of his "boys" having rides in the Cup, Barrett thinks McEvoy's ride Lucia Valentina is best placed but concedes Caulfield Cup winner Admire Rakti is still the one to beat.
- AAP