The Paul and Clare Rooney-owned six-year-old was a hugely impressive winner of a Grade Two at Warwick in January over the trip of the two-mile-five-furlong trip of the Neptune.
He is a marginally shorter price for the Albert Bartlett over three miles at 14/1 compared to the 16/1 he can be readily backed at in the Neptune, and it may come down to the ground.
"Willoughby Court is in very good order, I'm very happy with him, like I am all my Cheltenham horses," said Pauling.
"No decision has been made yet, but I suppose I'm slightly leaning towards the Neptune at the moment, unless the ground came up quite quick.
"His Warwick form was given a boost at the weekend by Gayebury, but we'll just hold off making a final call."
A Hare Breath will represent the yard in the Arkle and Pauling is confident he will outrun his odds.
"We're restricted to the Arkle with him as he's only had two runs over fences and I'm not for one minute expecting to beat Altior as he looks like a monster," said Pauling. "After him, though, it looks an open race and I'm sure he'll run well.
"We know Cheltenham suits him and so will the end-to-end gallop. Last time at Doncaster everything went wrong, they went no gallop, it turned into a sprint and he was in front too far out.
"There's great prize money on offer and he could surprise a few."
Pauling also had news of stable star Barters Hill, who continues to recuperate following a season-ending injury at Cheltenham in November.
"He's on the walker for 45 minutes at a time, twice a day, and the injury continues to heal nicely," he said.
Meanwhile, Pauling is undecided whether his smart novice Le Breuil will run at Newbury or in Kelso's Premier Hurdle later this week.
The five-year-old picked up a knock after winning easily on his hurdling debut at Sedgefield, which held him up slightly, but he is ready to go again now.
He does hold entries at the Festival, but Pauling stressed that unless he is ultra-impressive in his chosen engagement this week he will probably wait for Aintree.
"I've got no preference at this stage," said Pauling.
"He will definitely run in one or the other and he's back in very good order again now.
"We had been trying to get him to Cheltenham, but he just had a little hold up after he won.
"Unless he wins on the bridle and is very impressive, I would imagine that we'll wait for Aintree with him."
