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				I was under the impression the early training affects the development of the racehorse's physique, enabling him to continue to run.  Is that wrong?
			
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 No, that is correct.  Listen to the replay of Steve's show from yesterday, with Dr. Bramlage, who briefly explains this.
In other horse sports - jumping, barrel racing, dressage, etc - horses are not brought into the more challenging physical part of their careers until they are much older (comparatively to racing)
People, especially horse people, then naturally have a tendency to transfer what applies and is true in other horse sports to racing.    
There is a alot of valid veterinary orthopaedic research evidence, however  - down to how much speed, how long, how many times a week - on what it takes to develop young race horses (2-year-olds) with the bone needed to support a racing career.  It's all about "Wolff's Law".
You can't hothouse young developing bone by doing too little, too slow, or it will not remodel (during the time of life that it can) with the strength to stand up to the rigors of racing in the future.
If you do too much, you obviously break it down.
Spacing is important, as after the body is stressed to induce change, you have to allow the body time to accomplish the remodeling.
Too little is just as dangerous as too much.  Certain speeds as a young horse are needed, at appropriate frequency.  Slow galloping only on young horses leads to breakdowns due to weak bone in the future.