John Singleton was quick to identify the flaw in the perfect story that would have been a win for his and Gai Waterhouse's feud-ending horse in the Golden Slipper.

"It was all too good to be true," the millionaire media man said after colt Kiss And Make Up finished second last.

Kiss And Make Up went into the Golden Slipper with a great story and even greater expectations: it was the co-owned colt that brought Singo and trainer Waterhouse back together after a very public falling-out in 2013.

While they missed their share of the rich $3.5 million purse for the Slipper, Singleton did have one consolation: he wouldn't have to follow through on his pledge to shout the Rosehill public bar if Kiss And Make Up did deliver the goods.

"They should be shouting me," the underwhelmed ad man said.

The 60th running of the Golden Slipper delivered a surprise ending with the Peter and Paul Snowden-trained Capitalist winning at $8 while favourite Extreme Choice finished in eighth place.

The 20,000-strong crowd did manage to cheer the favourite home in the second-richest race of the day, the $1 million George Ryder Stakes, where wonder-mare Winx racked up an eighth straight win.

The Rosehill crowd was a typical mix of fashion and glamour alongside the focused big race punters.

Sponsor Longines handed out a $2500 watch to the most elegantly-dressed racegoer, Sydney mum Tanya Lazarou.

The race meeting had some of Australia's best-known and most powerful women in attendance.

Federal Defence Minister Marise Payne, Melbourne Cup-winning jockey Michelle Payne and actor Rachel Griffiths were at Rosehill.

Michelle Payne wasn't riding but watched her brother-in-law Kerrin McEvoy win the Ranvet Stakes aboard The United States.

Senator Marise Payne, who was hoping to meet Australia's other famous M. Payne, said she was a huge fan of the Cup-winning jockey.

"I even backed Prince of Penzance and Michelle Payne in the Melbourne Cup as my TAB account would attest so I'm a huge fan. I'm not a blow-in," Senator Payne said.

Michelle Payne is teaming up with Rachel Griffiths, who is planning a film about the jockey's life and inspiring 2015 Cup win.

"Watching the Melbourne Cup with my daughters and seeing how incredibly excited they were and engaged when Michelle won the Cup ... it kind of opened their eyes up a bit," Griffiths told AAP.

"It was just one of those moments that showed them that girls can do anything and it was incredibly positive.

"She's an amazing role model."