Trainer Phillip Stokes says the four-year-old had trained on well in preparation for the #Lovethehorse Trophy (1600m) at Flemington on Saturday.
Arran Bay registered a win at Pakenham on December 3 over 1600m at his second run back from a break after disappointing the trainer with his antics pre-race at Cranbourne when resuming.
The gelding has raced at Flemington on four occasions, registering a win and two placings, but did win his only start over Saturday's journey.
That came in the Silverbowl Final in July, defeating Cardinal Gem, before going out for a spell.
Stokes said prior to that victory, Arran Bay had thrown away races at Flemington, but the trainer noted an improvement in the gelding's demeanour at Pakenham.
"He's won at Flemington before and he's doing things now in a better manner," Stokes said.
"He was throwing races away before by hanging in, but he's starting to mature now.
"First-up at Cranbourne he lost the plot and ran his race beforehand, but he was really good at Pakenham the other day and hopefully he stays like that at Flemington.
"He's trained on nicely and he looks good in the coat. It's a good competitive race, but I'm really happy with him."
Stokes is of the opinion Arran Bay, with time, will be capable of winning a better race than the benchmark 84 company he will be opposed to on Saturday.
With that thought in mind, Stokes said he may give Arran Bay a short break after Saturday, content with a three-start campaign.
"I don't know how deep I'll go," Stokes said.
"I may give him a little break after this. He's still got a bit of furnishing to do, and I think the best is still a prep away."