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Out of 699 horses 218 are intact. 43 of those are this season's foals that I haven't finished testing and sorting yet.

I would save the IVs to buy a bigger barn to put show ponies in so that you can keep your daily bonus high. But that might be my herd hoarding problem talking. :D I've got over 5000 stalls.

I am the one who doesn't like spending HBs but have no problem buying a barn with RL money lol
That being said I've started buying a 90 stall barn every month or so and filling it with closed gene auction foals.. I didn't go too bid happy this season so I still have about 30 some stalls left to fill in this month's barn

You can look at the older ones & see if they've already leveled off, or if they're close to it (intact horses typically level off the age that matches their PT score so a 9.9 PT horse who hasn't been gelded/spayed ought to level off when they're 10 years, from what i understand, and gelded/spayed horses typically level off a year or so after their PT score age). If they're leveled off & are scoring in the bottom of their class (check this by going to the "Records" tab on the horse - it'll show their recent placings in shows), you can expect they won't increase their points much, if at all.
Since you can now auction over-10-year-old horses for their lifetime payout, it might be a good route to take to clear out some.
I don't really have any horses who're that old yet, so this is mostly a compilation of what i've heard other people recommend and it may not be 100% accurate. :)