Well, in my opinion Pacquiao could still do well against Floyd if they ever faced. I'd like to first preface this with the fact that for the past 2 years I've stated that the fight is NOT going to happen. They've actually went into negotiation in the DECEMBER of 2009! So one or the other have dicked the fans over for the past 2 years, and now that one or both are faded we MIGHT get a fight. I think if it does happen it would happen too late. Maybe it'll have the relevance of Bhop vs. Roy Jones someday.
Either way I feel Pacquiao could still do well against Floyd. Yes his foot speed and volume have diminished a bit, but he still has the hand speed. Also, Floyd doesn't do well against southpaws (Judah, Corley, Ortiz). If Pacquiao throws at high volume and improves (or learns!) his ability to cut off the ring then we might see fireworks. Last Saturday's performance is not necessarily a telling sign of how Pacquiao would do against Floyd. Marquez has Pacquiao's number and can: neutralize his offense, counter his shots, time him, and miraculously take his shots without getting hurt (is Marquez on PED's??! haha). As someone on this forum pointed out: a shell defense is very different from stepping off the line to set up the counter. A shoulder roll is only a good counter for a straight right hand, not a left cross. Pacquiao's right hook will go over top the lowered left hand, and his left hand will hit Floyd on the button when he leans away or dips down. In the same way Marquez did well agst Pac, Martinez would do well agst Pac even if Sergio were smaller.
There's talk from Ariza of Pacquiao taking his last few fights lightly. If that's the case (and we can agree we didn't see Pac on his toes, side stepping while throwing 5-8 punch combos, throwing punches from all directions, the endless endurance and beastliness, his clapping his gloves for more, his Manilla Ice) then we may see another dazzling Pacquiao performance. All he needs is a tune up fight in early 2012, and by then people will forget the Marquez controversy and May 5 will roll around the corner. But now I think Pacquiao's team is protecting him.
It's ironic how he ring walks to Eye of the Tiger when he's obviously lost it. Maybe Rocky 3 was just a good movie and that's why he likes it. And this is coming from a Pacquiao fan who had decided to cheer for Marquez this time around b/c I thought he deserved some recognition. Holler!