Can FA Cup cheer Moyes and Ancelotti?
If the stakes were high when Everton met Chelsea in the 2009 FA Cup final at Wembley, then there will still be plenty riding on the outcome when the two clubs meet again in fourth-round combat at Goodison Park on Saturday.
Should Everton go out to the holders and last season's Double winners, Toffees manager David Moyes knows, for all the admiration he has won for fighting the financial odds at the impoverished Merseysiders, his reign might be measured by not landing a trophy.
If the men from Goodison Park lose, Moyes' next chance to get his hands on silverware will come around about the 10th anniversary of his arrival from Preston. For all the Scot's fine work, this is a stark and sobering statistic and one which may cause the 47-year-old to reflect on the direction in which his tenure is heading.
The FA Cup also has serious appeal for Moyes' Chelsea counterpart Carlo Ancelotti, with a collapse in form handing the Premier League initiative to Manchester United - the Red Devils are 10 points clear of the West Londoners at the top of the table - and Barcelona presenting an imposing obstacle for anyone with sights on the Champions League.
If some of the weekend's FA Cup ties will be played out by under-strength teams and managers with their eyes on other prizes, the confrontation between Everton and Chelsea is unlikely to be among them.
Moyes knows this is his side's last hope of success in a season of underachievement, while Ancelotti will accept any silverware as an answer to the charges that Chelsea's squad has been allowed to grow old and into decline together.
At least Ancelotti has the security - all things being relative of course - of an owner in Roman Abramovich who has demonstrated he still has deep pockets when the fancy takes him, as proved by his £35m bid for Liverpool's Fernando Torres and the expensive pursuit of Benfica defender David Luiz.
For Moyes, life exists on football's breadline and his scouring of the loan markets and the loss of stand-out performer Steven Pienaar to Tottenham in this brief transfer window is grim evidence of Everton's continuing reduced financial circumstances.
Former Chelsea and Everton winger Pat Nevin will be at Goodison Park for BBC Radio 5 live on Saturday - and expects an encounter that reflects the importance of the FA Cup to the two clubs this season.
Nevin told me: "Both sides will want this badly and I don't expect to see any weakened teams out there - anything but, in fact.
"There will be no danger of Chelsea taking this lightly. This is a competition they can possibly win and they will go for it. I would be stunned, amazed, if Carlo Ancelotti fielded a weakened team and I don't think David will either. This will be a proper FA Cup tie.
"The Premier League is looking more of a long shot for Chelsea with Manchester United now picking up and going so well. The Champions League is a tough gig as well with Barcelona still in it, so Chelsea may have more of an opportunity in the FA Cup.
"Chelsea and Ancelotti will not want to end up without silverware this season. It would only underline all the talk about Chelsea being on the way out, or done for and falling from a great height. This is why this tie so important to them.
"I am not hugely shocked by how Chelsea's form has deteriorated in the last few weeks, although the 4-0 win at Bolton will give them a real lift. If you look at the personnel they released in the summer all it needed was some injuries and the strength of the squad was really going to be put under the microscope.
"And it was always going to happen. It is a post-World Cup season and even if players didn't play long into the competition there was always the likelihood that they would pick up injuries. It has happened to Chelsea with Frank Lampard and John Terry being injured and Didier Drogba also getting malaria. This is the core, the spine, of Ancelotti's first choice team."
Nevin added: "Ancelotti has also been unlucky in that he has also lost two other key players through injury. Yossi Benayoun effectively came in to replace Joe Cole and if you asked me to make a choice between the two I would take Benayoun every day.
"Benayoun was on the level just below Steven Gerrard and Fernando Torres at Liverpool. When he played, things usually happened. And one of the reasons I was never a huge fan of [former Reds manager] Rafael Benitez was that he often used to leave Benayoun out after he played well. It was beyond me.
"The other big loss has been Yuri Zhirkov, who provides cover all along the left-hand side. He had a brilliant run of form when he got his chance and then got injured."
Moyes has fought to hide his frustration at the lack of progress and lack of financial muscle at his disposal this season - but Nevin has no doubts he remains the central figure in Everton's future, irrespective of events over the rest of this season.
"What I will say is that if David Moyes wasn't at Everton, I would be delighted to see him at Chelsea if there was ever a vacancy. I don't know one person who could have done a better job at Everton in the circumstances," Nevin commented.
"Things may not have gone right for David so far this season but I would say Everton need David Moyes more than David Moyes needs Everton. If he was relieved of his post on Saturday afternoon, which he won't be obviously, there would be a queue for his services. He would not be out of work for long because he is so highly regarded within the game.
"Everton's problem is something unbelievably simple and yet something made more complicated by the fact they have not been able to solve it through the transfer market. They need a striker who can score them 15 to 20 goals in a season.
"You see Aston Villa spending £24m on Darren Bent and Manchester City spending £27m on Edin Dzeko and Everton just cannot do that financially, nowhere near that.
"I saw Everton play at Liverpool recently and, while Liverpool were better player-for-player, Everton were brilliant tactically. I had a high vantage point at Anfield and was able to see the organisation and structure of Everton's team and the way they set up for set-pieces. It was outstanding and obviously the result of a lot of work from the manager.
"David has players like Tim Cahill, Seamus Coleman and Marouane Fellaini who can get goals from midfield but not the strikers. Yakubu was never going to do it, Louis Saha might do it but he misses games through injury. The one who might do it is Jermaine Beckford, who seems to get chances in every game he plays.
"My own opinion is that if Everton could have put together a deal to take Roque Santa Cruz on loan from Manchester City and got his attitude right - which I'm sure Moyes would have done - then he would have been perfection for them.
"As for the game itself, I wouldn't call it with confidence. Chelsea's home results have been fine but it is on their travels that they have struggled.
"Goodison Park is a tough place to go and Everton will know this represents their last chance of a trophy so they will be going for it. I actually think Everton are slight favourites, although if Didier Drogba continues to suggest he is finding his best form Chelsea's chances will improve dramatically."
The FA Cup may have lost a little of its lustre in the minds of some seasoned observers - but all evidence suggests will be fought for just as fiercely as it was at Wembley when battle commences at Goodison Park.