He does rely on reflexes to a certain extent, but his skills are textbook. He has a couple of years of prime left, and then who knows? The right fighter could catch him and finish him. However, he is an insecure nervous *****.
Mosley and Marquez were smart enough to feint and catch him with an overhand right. Floyd throws a technically poor left hook sometimes. He keeps it too low and has his chin up instead of rolling it over high for his left shoulder to protect him. A fighter like Floyd must have been tripping over that. He stated in the post-fight press con that he'll talk to his uncle and father about fixing that mistake.
He has faded a bit, but he still is leagues above most. At this point only the crudest fast footed high volume swarmer could take him and that would have little to do with skill than making it more of a "war of attrition". Mayweather beats the top 10 WWs and all prospects for the next few years, not counting Pac(?). Even losing a step.
He already started to fade, but like Marquez, his skills keep him at a high level. RJJ always relied on his reflexes but once those went, he kinda got screwed since he didn't have the pure boxing ability to support himself. Floyd's used a combination of high level boxing talent with reflexes and a high defense. His reflexes have slowed a little but he's made up for that by ratcheting up his defense, with the Mosley fight still showing that he can be offensive and do it well when he wants to. But I think his number 1 goal is to retire undefeated. I don't think he'll be the kind to be stuck in the game for too long, which is why I absolutely don't see him fighting after Pacquiao retires, whether they fight or not.