Nine times out of ten, the show isn't really a test of any magnitude. As Jack has pointed out in other instances, most shows average out to about 45 to 50 minutes. Most shows are decided by one dog that is blatantly better than the other, so in that aspect, the show isn't a test of anything aside from one person giving their money to another.

What Bolero said rings true the most for me personally. There have been other valid points throughout this thread. Your eye for a dog, your level of experience, and your ability to know quality as opposed to the next person truly determines what hard tested means.