Trainer Bob Baffert walks Captain Steve at Churchill Downs before the Kentucky Derby.

At 6:30 a.m. on Saturday morning, Baffert's Captain Steve nearly collided with a loose horse while taking an early-morning gallop.

"It was a near-miss," said a grinning Baffert. "This happens at LAX every day, we just never hear about it."

Why was he joking after such a close call?

"This type of thing happened at the Preakness with Silver Charm," said Baffert. "He got loose on race day morning, and he had pretty good luck that day. It's a good sign."

Of course, Silver Charm went on to win the second leg of the Triple Crown later that afternoon in 1997.

But if history means anything, bet on Captain Steve to show, not win, in the Derby. The chestnut colt is one of three Derby horses named "Captain" to Run for the Roses. The other two -- Captain Hal in 1925 and Captain Bodgit, who was edged by Silver Charm in a classic race in 1997 -- finished second.

Line change: Pegasus at 6-1:
Is the Fusaichi Pegasus bandwagon moving over to the middle lane from the passing lane? The morning line has the Neil Drysdale-trained colt at 6-1 odds, down from a 9-5 opening line. The favorite is the four-horse ticket of Trippi, Commendable, Impeachment and High Yield at 7-2. Standing above Fusaichi Pegasus on the board is The Deputy at 9-2 and Captain Steve at 5-1.

If you're looking for the longest shot of the 19-horse field, go with Exchange Rate. The D. Wayne Lukas-trained colt is at 50-1, which far exceeds Graeme Hall, the next horse up the totem pole, who is at 30-1.

	You betcha
	If you need a little betting cheat-sheet for your Derby party, here's a look at some of the terms:
	Win: Your horse must finish first in the race to collect your winnings.
	Place: Your horse must finish first or second.
	Show: Your horse must come in at least third.
	Exacta: You must name the first- and second-place horses in the exact order of finish.
	Daily Double: You have to pick the winner of two successive races.
	Trifecta: You must pick the first-, second-, and third-place horses in exact order to win.
	Superfecta: You have to pick the horses that finish first, second, third and fourth in exact order.

Twice as nice for Lewises, Campbell:
Just having the privilege to play dress up for a day and sit in the owner's box to watch your horse on the hallowed grounds of Churchill Downs in the sport's grandest race provides memories to last a lifetime. Along with it comes a tension-filled week and an almost excruciating six hours between the first race of the day and the main event.

So imagine what it's like having two entries. That's what Bob and Beverly Lewis (High Yield and Commendable) and Cot Campbell (Impeachment and Trippi) will experience on Saturday.

"It makes it tough, but I wouldn't have it any other way," says Campbell, who is president of Dogwood Stable. "It's tension, but wonderful, sweet tension. It's tiring and such tension seems to take a toll but it really is such a fabulous thing."

"It's a dream come true for us, it really is," says Bob Lewis, who has stood in the winner's circle with Silver Charm in '97 and Charismatic last year. "The only way we can deal with it is to be enthusiastic. That's why we enjoy being associated with Wayne Lukas (Trainer of both horses), whose glass is always full. We know that in this business even if you lose 80 or 85 percent of the time you are doing great."

These fortunate owners all compare having two horses in the Derby to having two children competing in a race. You don't root for one over the other, but you do watch them differently.

	Derby Dollars & Cents
	Parking anyone?: Churchill Downs lost about 450 parking spaces due to the widening of nearby Central Avenue. That puts smiles on the faces of residents on Haywood and Rodman, who usually can make up to $1,500 by filling their lawn with 10 cars at $50 a piece on Derby day and a little cheaper throughout the two-week festival. According to The Kentucky Derby Festival, the two-week period through this Saturday, will have a $60 million impact on the city of Louisville.
	It's official, now buy it: With every major sporting event comes a barrage of officially-licensed products. This year?s specialties include the 126th Kentucky Derby table cover with napkins for $40; a Kentucky Derby Nicole Miller scarf for $85; a limited-edition Churchill Downs replica birdhouse for $195; and a Peter Max signed poster for $200. SME Design of New York designed the logo and has a contract for the Derby logo through 2003.
	Derby glasses & Pegasus pins: The popular souvenir is the Derby glass, which of course is filled with the Derby drink, Mint Julep. The first Derby glasses from the early 40's are the most valuable and range in price from $5,000 to $15,000, depending on their condition. Pegasus Pins are plastic pins that cost $2 and are used as admission tickets to various Derby Festival events. The first pin, issued in 1973, has fetched up to $800.
	Technology "on track": Horse racing soon will be benefiting from race tracking technology by 2002, according to Jaan Janes, VP Sales and New Development for Sportvision. The company that invented the First and Ten technology (yellow line in football broadcasts) is currently pitching their "RACEf-x" tracking system to auto racing leagues and broadcast rights holders for the 2001 season. The system will allow the fan to track their favorite cars through a unique highlight or glow color and will also feature a virtual race track in the corner of the screen with the highlighted cars and their position on the track. How soon will this technology reach horse racing and the Kentucky Derby? Janes says it could be there within the next two years, but it depends on how the routine-oriented and superstitious trainers and jockeys receive the news that their horse will have to wear a tracking device.
	Jockeys in the Derby: According to the most recent NTRA statistics, eight out of the top 10 earning jockeys will be in Saturday's Derby. Anees jockey Corey Nakatani leads the group with 2000 earnings of over $5.7 million. Jockeys that have made over $4 million include Captain Steve rider Robby Albarado, Jorge Chavez on Exchange Rate, Kent Desormeaux on favorite Fusaichi Pegasus and High Yield veteran rider Pat Day. Lanfranco Dettori, Chris McCarron and Jerry Bailey round out the richest jockeys in 2000 that will be racing in this weekend. McCarron and Pat Day are the only two jockeys in the history of the sport to have earned over $220 million throughout their careers. -- Darren M. Rovell Special to ESPN.com

"In the paddock, I listen to my trainer give instructions to the jockeys so I know what to watch for out of the gate," says Lewis. "I watch for the decision-making that takes place. Jockeys have tremendous decisions they must make instantaneously. It all goes down the drain if one decision is the wrong one, so that's what I watch for.

"Oh, and which one is in the lead."

Campbell, who seems to be more confident in Impeachment's chances than Trippi's in this race, will also have his eyes on Post 5 come 5:27 p.m.

"It'll be more crucial for Trippi out of the gate, so I'll be eyeing him," says the owner of Summer Squall, who won the Preakness in 1990. "I'll be hoping that he doesn't get out there too fast. We want him to lay about four lengths off the pace. At the half-mile post or so, I'll start watching Impeachment more because that's when he should start making his run."

Despite what he says, there may be a touch of favoritism for Trippi, a horse he named after an idol of his.

"He's named after Charley Trippi, the great halfback for Georgia many years ago (in 1946 he was the Heisman Trophy runner-up)," says the 72-year-old Campbell. "He was the king of the end sweep. Later, in the pros, he played for the Chicago Cardinals."

Though these owners are two of the elite in the sport, they never take their successes for granted. They realize the odds it takes to get a horse to the post on the first Saturday in May.

"There are 35,000 3-year-olds out there and only up to 20 run in the Derby," says Campbell, who will spend the morning playing tennis to calm his nerves. "People don't realize exactly how significant it is to actually have a horse here, or how hard it is to get here."

"Win or lose, this is the greatest franchise to be a part of," says Lewis with his wife, Beverly, standing close. "Whether you have one or 10 or 100 horses, it's yours. It's like having a NFL team, but only better. Think about it: the horses never talk back, they don't hire agents and they don't demand compensation."

Cash cows:
With Thursday's scratch of Globalize, the Derby field is down to 19 horses. Consequently, the overall purse dropped $15,000. The money will be allocated the following way if there aren't any more late scratches:

Total purse: $1,188,200
Winner's share: $888,200
2nd-place share: $170,000
3rd-place share: $85,000
4th-place share: $45,000

They said it:
Neil Drysdale, the aloof trainer of Fusaichi Pegasus and War Chant, when asked about his excitement level on Derby Day: "I don't do touchy-feely questions."

Campbell on whether the Derby has lost its luster: "No way, I think it's more special. There's more to it now, and it seems to be hotter than ever with all the media here and the amount that's televised. NTRA and its promotion has been a big key. So has the near misses in the Triple Crown of late. There'll always be magic in the name Derby, alone. It's like saying the World Series or the Super Bowl."

Trainer Bobby Frankel (Aptitude) on which horses are the ones he is worried about: "The favorite (Fusaichi Pegasus) and Captain Steve."