"The pressure won't be on in the same way, and it should be a more sensibly run race."
Now a five-year-old, Surfin' Bird has been a slow maturing mare, but she has been able to amass seven wins from her 12 starts.
This time last year, Surfin' Bird was competing in benchmark company and ran in the Group 3 Hong Jockey Jockey Club Stakes (1400m) on Melbourne Cup Day, finishing a weakening fifth as an odds-on favourite.
"She's almost a different horse," Waterhouse said.
"Last year she would have been beaten on Saturday, but this year, she's a year older, more mature, bigger and stronger.
"I love backing up horses. You only have to look at the horse (Cosmic Crusader) that won the Cox Plate.
"She has thrived this preparation and her win last week was really gutsy I thought.
"I really love it when they roll up their sleeves and get on with the job and I liked the way she found the line and has gone ahead since then.
"She seems very happy and she doesn't have to improve a lot.
"I think the Empire Rose is a winnable race this year."