One main reason handicapping remains an art and not a science is the infinite number of variables that impact each and every race––recency, class, speed, trainer intention etc. etc. To tame the wild beast experts, logically (sic), introduced an overload of more variables---track bias, trips, variants, bounce. et al.
Even the Beyer numbers are only as good as a horses' trip, trouble, surface, bias etc.
To quote 'Family Guy's' Peter Griffith, '"Two words. C'mon!."
My point? No single approach to the game works enough to rely on.
It would seem, to win consistently, the player must narrow his or her scope down to a very few factors or situations. Then, concentrate wagering in those spots.
For example, handicap only horses that finished second last time, or beaten favorites. Maybe, sprints on dirt only in nw 1 Allowance races. Or, as suggested by the book 'How Will Your Horse Run Today?,' focus--only-- on the top two favorites.
Wherever you focus, digest it. Refine it. Master it. Once that's done, return to your specialty or slowly add one other approach.
In any event, it beats trying to be all things to all races.