Ok, to answer your questions:
As Sora said, the ratings are an estimate (since a real horse owner would have to guess these figures, it’s not something you can measure out in real life). Each letter “grade” can be wrong up to 2 letter grades…an “A” may really indicate as low as a “C” rating, though it’s more likely a B or A. Generally, I assume it’s about average between the two pages’ ratings. I don’t race my horses unless I see an “A” for energy on at least one of the pages, assuming that they probably have about a B at least from this rating. To run under a “B” rating means they could really be as low as a “D” rating, eep! At the same token, a “C” rating can indicate as low as an “F” rating, or as high as an “A”, so it really doesn’t tell you much without referencing the other page to get a better idea. Hope that makes sense!
FF does run on real time…however, “midnight” is different per time zone, and the server (due to early crashes & whatnot, I’m assuming) is slightly on it’s own time zone for when “midnight” should occur. You can check the FF time on the home page, though, and see how it compares to your own time zone to figure out when the FF “midnight” occurs in your time zone. However, different scripts run at different times…i.e. babies might be “born” at midnight FF time, deaths may occur at 1am FF time, etc.
Races run on Wednesdays at 8pm (I think!) FF time, and on Saturdays noon FF time (again, I’m guessing). Gives you an idea, though. Claims are processed at the end of all the races, so if you submit a claim, you won’t know if you’ve won 'til AFTER all the races are run.
Generally, the week schedule goes as such:
SUN: race entries open for Wed races & Sat races
MON: race entries open for Wed races (last chance) & Sat races
TUES: race entries CLOSED for Wed, but claims can still be made…race entries open for Sat races
WED: RACES RUN @ 8PM, no claims can be made anymore for Wed, race entries open for Sat races
THUR: race entries open for Sat races (last chance) & Wed races
FRI: race entries CLOSED for Sat races, but claims can still be made…race entries open for Wed races
SAT: RACES RUN @ 12PM, no claims can be made anymore for Sat, race entries open for Wed races