Minella Forfitness got up in the last stride to deny Cheltenian a winning comeback in the SIG Insulation EBF "National Hunt" Novices' Hurdle at Doncaster.
The 9-4 favourite was only third over the final flight, but responded to Barry Geraghty's urgings on the drive to the line to strike by a short head.
"He ran a bit with the choke out so I had to wait until he filled up again. I think he's suited by further. It was only after the last when I felt I had a chance. He's more of a horse for next year," said Geraghty.
While disappointed at the agonising defeat, trainer Philip Hobbs was delighted with Cheltenian, who was having his first run since winning the Weatherbys Champion Bumper in March 2011.
"He's run fantastic, but it's frustrating that he just got beat. We'll have to see how he is in the couple of weeks. Hopefully he'll go to Cheltenham but he's only had this one run in the last two years," he said.
"He's in the two-mile (Supreme) and the two-mile-five (Neptune Investment Management). We'll have to see what the ground's like but he looks to have plenty of pace for two (miles)."
Geraghty was completing a double for the Henderson team, begun by Otto The Great (5-2) in the 32Red Novices' Chase. Given plenty of room out wide by Barry Geraghty to have a good look at the obstacles, the Nicky Henderson-trained grey put in an assured display to dispense of three rivals.
"He jumped brilliantly. We just got racing a bit early in the straight and galloped into the fourth-last. Apart from that he was foot perfect. He didn't win over hurdles but had some great runs. He disappointed at Newbury, but we always knew he would take to fences," said Geraghty.
Hobbs and jockey Richard Johnson gained some compensation for Cheltenian's defeat when Doctor Foxtrot (20-1) overcame a 518-day absence to win the SIS Live Handicap Hurdle and deny Geraghty, on the length-and-a-quarter runner-up Mister Dillon, a treble.
Tom O'Brien will miss the Cheltenham Festival after he was hit with a 10-day suspension in Minella Forfitness' race. O'Brien was found guilty of "failing to take all reasonable and permissible measures to obtain the best possible placing" aboard Benefit Cut, who finished seventh.
19 June 2013
Perfect Annecdote at AscotGodolphin swoop for Libertarian
Doyle hits treble top on Rizeena
Doyle fits the bill in Hunt Cup
Toronado pointed towards Goodwood
O'Brien keeps faith in Camelot
Kazeem crowned Prince of Ascot
Cambridge Dun and dusted
Perfect Ten in Jersey
Plenty of rain needed for Approval
Banoffee pencilled in for Haydock
Classic rematch in Coronation
Guest has excellent chance
Brittain sweet on Rizeena
Team O'Brien hope for perfect Ten
Chigun aiming for Cambridge glory
Camelot bids for redemption
O'Neill ace proves too sharp
Ballydoyle in command in Coventry
Dawn delivers in thriller
Sole powers to sprint glory
O'Brien sounds War cry
18 June 2013
Stevens is king of the CastleAl Thani snaps up Sandiva
Minute's silence remembers Cecil
Duntle on Cambridge duty
Alive and Just in Ribblesdale mix
Passage heads Gold field
Deegan considers Soprano options
Toro out for Palace glory
Cecil's words not lost on Ponsonby
Dawn out for Palace redemption
Hawkwood supplemented for Hardwicke
Flotilla To Drop Back In Trip
Cecil's Chigun in Cambridge action
Al Kazeem and Camelot clash again
De Kock hoping to make history
War ready for Royal Ascot battle
Kingdom set to reign over Ascot
17 June 2013
Magician set for Palace showdownCat clings on for Carroll
Three more winners for Lady Cecil
Monaghan delivers on Midnight
Treve in stunning Diane win
Sapphire target for Trees
Beckett mulls Secret options
Nicholls has broken wrist
16 June 2013
Songbird aiming to fly highMovie has Newmarket on radar
Fahey juveniles primed for action
Stubbs leads O'Brien Coventry team
Salsify on summer break
Kempton target for Benbulben
Top trio head Palace runners
Shea Shea shoots for Stand glory
Animal heads Queen Anne field
Saint-Cloud aim for Dunaden
Magician to be declared for Palace
Soul all heart in York sprint
Kingsgate rules Musselburgh
Sam too sharp for rivals
Hughes makes it pay with Knight
Balding on mark with double
Morawij in a hurry in Scurry
Bartley is queen for a day
Big guns to clash in Coronation