I switched my horses to Strategy GX last spring and they have never looked better.
Originally I was trying to find a grain that was extruded so that it would not attract the pidgeons and starlings that were starting to flock to my farm. The extruded pellet definately helped in that respect, I no longer come home after work to find the birds have rifled through the manure piles in the stalls looking for grain. Now I have nice complete piles to pick up and its much easier.
But I've also found that my horses are thriving on this feed. I've always fed some type of grain (sweet feed, oats, etc.) but the Strategy has made a noticeable difference in the coat and condition of my horses.
Another benefit is I can feed it to the whole herd of horses at varying ages instead of having to feed a special senior feed to the older ones.

Pros: great feed and convenient

Cons: heavy?