For me it has to be Kauto Star today. This morning's Racing Post lists Denman's racing career and health problems since last year's Festival and it does not look like the preparation of a Gold Cup winner.
130 JCB Triumph Hurdle (Grade 1) 2m 1f: Master of Arts
205 Vincent O'Brien County Handicap Hurdle (Grade 3) 2m 1f: Raise Your Heart
240 Albert Bartlett Novices' Hurdle (Grade 2) 3m: Pride of Dulcote
320 totesport Cheltenham Gold Cup (Grade 1) 3m 2f 110y: Kauto Star
400 Christie's Foxhunter Chase Challenge Cup 3m 2f 110y: Cappa Bleu
440 Martin Pipe Conditional Jockeys' Handicap Hurdle 2m 4 ½f: Mamlook
515 Johnny Henderson Grand Annual Chase Challenge Cup (Grade 3) 2m 110y: French Opera

