"We're happy the horse has finally been able to bring his best form here and show the form we know from New Zealand," McKee said.
Last autumn King Mufhasa finished a close fourth to last year's Toorak winner More Joyous in the Group One Futurity Stakes (1400m) at Caulfield.
McKee said he now fears the gelding will be weighted out of next month's Group One Emirates Stake (1600m) at Flemington, fuelling speculation that the owners will pay a $130,000 late entry fee for the Cox Plate in two weeks.
The Toorak Handicap first prize was $210,000.
"It [the Cox Plate] would not be my first choice but he is a seven-year-old gelding and if the owner wants to go, it is up to him," McKee said.
Five-year-old mare Black Caviar has won her 14th start in a row, matching the feat of the great New Zealand thoroughbred Phar Lap by winning yesterday's Schillaci Stakes at Caulfield.
Black Caviar, ridden by Luke Nolen and trained by Peter Moody, looked effortless in winning the 1000m race by four lengths from a field of seven challengers.
Outstanding colt Helmet claimed his third Group One feature when he dug deep to score a courageous win in the $1 million Caulfield Guineas yesterday.
Ridden aggressively by Kerrin McEvoy, Helmet held off Manawanui, while Huegill was third.