Ken does really well for the first four or five rounds using his jab and overhand right,holding ring centre. Eventually,though,he concedes ground due to Frazier's unrelenting pressure. Come the middle part of the fight the referee calls off the fight rescuing a brave Norton.
I know this was past his prime but I remember Norton getting hurt to the body vs LeDoux, and I feel like Norton with his cross arm defense that Frazier would find openings to his body aswell. Overall I think Frazier breaks him down and stops Norton in the 2nd half of the fight.
The logistics never demanded, let alone absolutely demanded, that that Joe and Ken fight each other - and there was money to be made elsewhere. Had it somehow arrived at Joe as Champ and Ken as # 1 contender and irrefutable outstanding challenger - they would’ve fought. They would’ve fought also if the money was simply right. It’s a job after all, with families to feed and support - it would not be “selling out” on the friendship. It wouldn’t have been a breach of friendship, rather, just an understandable professional obligation. If they maintained the vow not to fight one another, then one or the other could’ve taken it to the point of retiring as the only option to avoid them fighting - neither man would’ve done that. Atop all that, there have been plenty of pre existing friendships maintained or friendships later forged between boxers who have faced one another. If they did fight, I think I’d take Joe by later round KO or stoppage by say round 8 or 9. Too much pressure and consistently applied power for Ken to handle imo.