I agree. If the horses come up even by every other measurement (a rare occurance), I'd have to prefer te one that finished with more in the tank.

The only possible arguement to negate that is that maybe the tired one gives more every time he runs and will continue to do so and finish just as close the next time they meet. However, if he gives his all every time, he is more likely to go off form from his efforts.

One could also argue that the tired horse got more out of his race, but unless he has shown he has run better than the other horse in the past, or has a better pattern and better chance to improve (which in this case he hasn't), I'd still go with the fresher horse.

Bob