Holmes is pleased with the injured sheep as it supports his hypothesis and aids in solving the case.
The best summary of the excerpt from "The Adventure of Silver Blaze" is:
Holmes is pleased upon learning of the injured sheep, which seems to support his hypothesis. Holmes's reaction of being extremely pleased and chuckling upon hearing about the lame sheep indicates that it aligns with his deductions and aids in solving the case.
The importance of these clues is evident in Holmes's reaction, emphasizing their value in the investigation.
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