As New Zealand Racing Hall of Fame trainer Graeme Rogerson prepares for his shot at again winning racing's Holy Grail, he has revealed: "I'm just lucky to be alive".

Rogerson and his wife Debbie will produce three-time Group One winner Sharp ‘N’ Smart in next Tuesday's $A8.56 million Gr.1 Melbourne Cup (3200m) at Flemington but the larger-than-life trainer has already tasted victory in a much bigger event.

Earlier this year, Rogerson underwent life-saving cardiac surgery. It took months before he was fully recovered and while he still bears the scars of that ordeal, "Rogey" can't help finding himself looking at the bright side of life.

"Every day now is a good day," he said.

Rogerson revealed that his surgeon had told him his heart was operating at only 50 percent efficiency.

"Now I've had the operation, I've got the other half working," he quipped.

"I didn't know that when they saw you in half, it would cut you up so much. But I've got through it. They said (the recovery) would take six months and I've got two-and-a-half months to go. Then I'd like to think I might find another good horse."

That next good horse has a high bar to reach to compare with the Rogersons' current star, Sharp 'N' Smart. A winner of the Gr.1 Spring Champion Stakes (2000m) in Sydney, the Gr.1 New Zealand Derby (2400m) and Gr.1 Herbie Dyke Stakes (2000m) at Te Rapa, Smart 'N' Smart was last year's New Zealand Horse of the Year.

While a bug prevented him from racing at his best as a four-year-old, he has returned as a stronger spring five-year-old, as demonstrated by his last-start third placing in last Friday's Gr.2 Moonee Valley Gold Cup (2500m), a performance that confirmed he was on song for the Melbourne Cup.

"It was very good when you look at it from the sectionals, and you've got to remember he had 59 kilos. He's only got 53 and a half in the Cup," Rogerson said.

"In racing, weights and measures mean a lot. He's well off in the Cup, he's got a lot going for him. He just needs an ounce of luck."

A 12-time New Zealand champion trainer with 55 Group One wins to his name, including Savabeel's Cox Plate and Polar Success' Golden Slipper, Rogerson has a proud history in the Melbourne Cup.

Working closely with Lloyd Williams, Rogerson bought 1978 Cup winner Arwon and 1985 Cup winner What A Nuisance. And Rogerson got to hoist his own trainer's Cup when he produced Efficient to win the 2007 feature in Williams' colours.

"When you win one, you want to win another, then another. Lloyd's won seven," Rogerson said.

"You never know for two miles until they go up (in distance) but this horse shows every attribute needed to get it. He's got to the stage now where he wants to relax. He reminds me of Arwon and What And Nuisance.

"He's going to have to be at his top of his game, but I think he's not far from it. The only thing he doesn't want is a wet track."

With Rogerson recovering from his heart surgery, Debbie has navigated Sharp 'N' Smart's campaign, and her work has only earned accolades from one of racing's most renown hard-markers.

"She's done a super job. He had a bad bacterial virus and while he showed glimpses, he never produced his best form from when he was a three-year-old," Rogerson said. "But Debbie's done a hell of a job to get him back. Now, he's not far away. It would be lovely to win it. It would be good for New Zealand. But if not, we'll be back again to try next year."