Compare the Spanish and English versions of this Spanish dressage diva's page (yes, the Eng is a translation, but the English pages are quite good and there are many of them.)

Conocedora en profundidad del caballo de Pura Raza Española, Mercedes imparte cursos formativos teóricos y prácticos sobre la morfología y la funcionalidad del Caballo Español, tanto en España como en el extranjero.

Mercedes conoce a la perfección los secretos y la forma de domar y enseñar un Caballo Español desde su desbrave hasta nivel de Alta Escuela.

In depth specialist on the Pure Bred Spanish Horse, Mercedes imparts theoretical and practical formative courses about the morphology and the functionality of the Spanish Horse, in Spain and worldwide.

Mercedes is familiar with all the secrets, the education and training of the Spanish Horse from backing to High School, showing, in hand and ridden, judging, selection, breeding, movements, types and temperaments.

--------------------------------------------------
Note added at 2 hrs (2007-06-29 04:33:23 GMT)
--------------------------------------------------

Okay, I do see one error: backing for "breaking" but the rest is well written!

--------------------------------------------------
Note added at 2 hrs (2007-06-29 04:35:09 GMT)
--------------------------------------------------

And here's another explanation:
Un caballo debe tener equilibrio, balance y armonía, lo cual se traduce en belleza física y estilo, con esto quiero decir que la funcionalidad de un animal requiere de proporciones adecuadas ya que especialmente los caballos de silla con su jinete deben repartir convenientemente su peso etc.
http://www.begona.com.mx/article.php?idA=7

--------------------------------------------------
Note added at 2 hrs (2007-06-29 04:38:28 GMT)
--------------------------------------------------

Also, on English sites:
Conformation & Functionality Shows All horses are shown in-hand, however the stallions 4 years old & over also have to do a predetermined ridden dressage ...
www.spanishhorses.net/News.php?CatID=7

--------------------------------------------------
Note added at 12 hrs (2007-06-29 14:51:07 GMT)
--------------------------------------------------

is struggling to fix the leak; her faithful horse stands behind her, wrench held in mouth, waiting to prove that he is handy, too. But from what I read (late) last night, it appears to be used not just in the sense of "easy to handle" but in functioning well. It came up mention in relation to the horse's balance, gait, etc. I think of handy having more to do with disposition. What's your take on it?

--------------------------------------------------
Note added at 12 hrs (2007-06-29 14:52:06 GMT)
--------------------------------------------------

The above note continues from my response to Taña below ...