Channon will hand over the licence to his son Jack in the new year and Caernarfon will surely be a horse for him to look forward to following this Listed verdict.
Having her seventh start of the season, the Cityscape filly was one of the most experienced runners in the field but even so was available at 11-1 in the hands of Connor Beasley with punters siding with the once-raced Dream Of Love as the 5-2 favourite.
It looked as though that market confidence would prove justified as she took up the running from pacesetter Conservationist with three furlongs to run, but Beasley was getting a great tune out of Caernarfon, throwing down a challenge up the stands rail.
She pulled clear and while she faltered slightly in the final furlong, Caernarfon had half a length in hand of Dermot Weld's Irish raider Keep In Touch with Dream Of Love back in third.
Channon said: "She has got a great cruising speed and I just said to Connor to get her rolling down the hill.
"He said he got there far too soon, but the race stopped and fell apart on him. Then she is in front and she stopped. She is a nice filly and she seems to be going to right way as all she has done is improve.
"She is a full-sister to Dan's Dream that we trained, so she will be worth a lot of money and we think this is a better filly.
"She is tough and has improved all year. We are thrilled. The trouble was she looked like hosing up but then the race fell apart a bit.
"It is nice to have a nice horse to hand over to Jack. This is the last time I will be coming to Newmarket as a trainer, so I thought I'd better come and take the money.
"I think she is crying out for a mile and a quarter. Whether she will get a mile and a half is the million dollar question."