03/10/2004 12:00AM

Derby update

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WHO'S HOT

Imperialism, the winner of the San Rafael Stakes, is one of three newcomers to this week's top 25 of Derby Watch. He is 25-1 on the future line set by Mike Watchmaker, Daily Racing Form's national handicapper. The other additions to the list are Rock Hard Ten (30-1) and Song of the Sword (40-1), recent allowance winners who are scheduled to make their stakes debuts in their next starts. Wimbledon, the winner of the Louisiana Derby, had his price slashed by Watchmaker to 12-1 from 30-1 last week. Borrego, 40-1 a week ago, is now 25-1 after finishing second to Wimbledon.

WHO'S NOT

Lucky Pulpit and Spellbinder were dropped following disappointing efforts in the San Rafael Stakes. Tiger Hunt also was removed because of a recent illness that has further delayed his 2004 debut. Gradepoint was raised to 40-1 from last week's 15-1 after his poor effort in the Louisiana Derby. Quinton's Gold Rush is now 50-1, up from last week's 25-1, after finishing fourth in the San Rafael.

ON THE BUBBLE

Breakaway, Consecrate, Odds On, Pollard's Vision, Preachinatthebar, Purge, and Silver Minister all were under consideration to be put in the top 25 this week, but with only three spots open and 10 horses vying for them, these seven will have to wait their turn.