The New Zealand Derby picture looks a little more confused after one of the key lead-ups at Te Rapa on Saturday.

Glorious Lad and Chambord were expected to advance their Derby claims in the Group Two Waikato Guineas (2000m) but they were outshone by the underrated Puccini, who scored an all-the-way victory.

Puccini won the Great Northern Guineas (1600m) on Boxing Day but was rated a $NZ10 chance in the Waikato Guineas.

Michael Walker got Puccini to the front from the outside barrier and controlled the race, comfortably holding off longshot Colonel Carrera, with Weregoingtogetcha finishing strongly for third.

"Michael rode him beautifully and didn't use him too much early," co-trainer Jacob McKay said.

Puccini is likely to head to the Avondale Guineas, in two weeks as his final lead-up for the New Zealand Derby on March 1.

Glorious Lad, who was examined by vets just before the race after becoming unsettled in the barrier, was fourth, while Chambord couldn't make up ground from the rear and beat only two home.

Northland filly Rising Romance, who stayed in her box on Saturday, is now the $6 favourite for the Derby. Puccini is second favourite at $8 along with Glorious Lad and Weregoingtogetcha.