Trainer Peter Bowen, whose stables in Haverfordwest are closer to Ireland than Chepstow, believed he had the winner last year in Take The Stand.
But the tough little horse, which went on to be runner-up earlier this year in the Cheltenham Gold Cup, tipped up four fences from home.
The trainer's view is to keep his highly rated steeplechaser out of handicap races like the Welsh National this season.
With one of his other major forces - Ballycassidy - pencilled in for the King George VI Chase at Sandown Park on Boxing Day, he might be short of a candidate for the Chepstow showpiece the following day.
Not so. Step forward McKelvey, which has raced just four times over fences, but has enjoyed two wins and two second places.
After the six-year-old's most recent victory, at Wetherby Racecourse, the trainer said: "The jockey (Christian Williams) says he's a Welsh National horse and I'll be tempted to go that way."
Welsh challengers for the Welsh National are always popular with the public.
Two years ago, Bindaree won the race for Welsh trainer-jockey partnership of Nigel Twiston-Davies and Carl Llewellyn.
The 2002 Grand National winner, which ran another great race last Christmas to be fifth at Chepstow, could still appear once again on 27 December. He ran an encouraging race on his seasonal debut at Aintree on Sunday until tiring late on.
Following Wednesday's fixture, the next racing at Chepstow is on Saturday 3 December. Meantime, tickets are on sale for Coral Welsh National day on Tuesday, December 27, both at the racecourse and on the racecourse's web site. Prices are £25 and £18 respectively for the Premier and Grandstand and Paddock Enclosures.
The first race on Saturday, December 3, is currently scheduled for 1.05pm.
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