LONDON (Reuters) - Memories of the great rivalry between Arkle and Mill House in the 1960s look sure to be revived in Friday's Cheltenham Gold Cup, finale to the four-day festival which opens on Tuesday.

Defending champion Kauto Star and the mighty Denman, both trained by champion Paul Nicholls, line up in one of the most eagerly awaited jump races for years.

Kauto Star is even money favourite, having proved himself in the race in 2007, but Denman, winner of 12 of his 13 contests, is a worthy challenger and best priced 7-4 second favourite.

Irish-trained Arkle won the Gold Cup in 1964 beating off Mill House, the pride of England, by five lengths and went on to complete a hat-trick of Gold Cup victories.

Kauto Star seeks to follow in the great horse's hooves and it is more probable than possible the eight-year-old can pull it off with top jockey Ruby Walsh as his partner.

Apart from the occasional habit of not rising properly at his fences, as at the last obstacle in 2007 Gold Cup, Kauto Star looks fireproof and has only fallen once in his 15 races, winning 11 times.

Denman, the mount of Sam Thomas, is a powerful jumper but Friday's race is his biggest test to date.

Trainer Nicholls, with an embarrassment of such riches, is reluctant to split the two but told a website question and answer session: "Put it this way, if I was in Ruby Walsh's shoes I wouldn't want to get off Kauto Star."

Nicholls, a former jockey, is also likely to send out useful outsiders Neptune Collonges (20-1) and Star de Mohaison (25-1), evoking memories of 1983 when trainer Michael Dickinson amazingly had the first five, led home by Bregawn.

Heavy rain and severe gales hit much of England on Monday and track officials were keeping a wary weather watch.

Ahead of the Gold Cup, the four-day bonanza opens on Tuesday with Sublimity 9-2 second favourite to retain his Champion Hurdle crown. Fellow Irish raider Sizing Europe is the 2-1 favourite.

The punting and carousing surrounding the festival will be as fierce as ever and this year one bookmaking firm is even offering odds on the amount of Guinness that will be drunk over the four days.

Between 195,000 and 205,000 pints is the 9-4 favourite with a relatively abstemious 175,000 to 185,000 pints the 10-1 outsider.