Who takes it? And please, serious answers only. No "Frazier decapitates him in the first 10 seconds of the first round" simply because Walcott was a Marciano opponent. Also Walcott was the size of Jimmy Ellis and more muscular, so no, he would not be some tiny ant compared to Goliath Joe Frazier I favor Frazier but I do think it's competitive
Frazier wins. Frazier has only lost fights to Ali and Foreman, and they are both ATG and H2H ahead of Walcott.
Most likely scenario is Frazier KO but I could see him being ahead on points till then. Sadly we don’t have a lot of Walcott at his best on film. We don’t get to see him beat Elmer or Bivins Baksi or Sheppard. There is a world where Walcott wins on points but I’d favor Frazier.
Tough fight for Frazier and tough for JJW - If JJW keeps JF off balance and moves away from the left hook he can control the fight and also pot shot the counters and left upper hook and right hands. Walcott could put Joe down, but Joes pressure and left hook need to be respected. I think the FOTC Frazier's pace and stamina could wear Walcott down and get a late stop, but the Walcott of JL 1 fight could beat JF - very competitive fight -like Marciano/Walcott 1 or Louis/Walcott 1 - Ali/Frazier 1 was grueling but Walcott would have to use angles and counters and make Joe miss and counter. It depends on which version of each man shows up.
Walcott had a wicked left hook of his own; Ezzard Charles and Rocky Marciano will attest to that. The natural counter to a left hook is a left hook, and frazier loved to work his hook. But he threw a wider hook than did walcott. Walcott, circling to his left with small steps, will be moving away from Frazier's hook and will have opportunities to land his own. He can certainly hurt or drop Frazier with that punch. If he can also find room to land a short right hand inside the Frazier hook- like Quarry did- and then come back with the hook, he is certainly in the fight. I expect that Walcott would have early success as I described and that it would work against him. He would stand in and trade with Frazier once he found out that he could hit him and hurt him. In the long run that would cost him the fight.
Frazier by late decision or hard stoppage. Walcott takes the early rounds with clever boxing . The fight gets more brutal after the halfway mark. I actually think this fight would resemble a more dangerous version of some of Walcott s fights with Ezzard Charles, except Frazier bring far more sustained pressure.
Best Walcott was the 47 version vs Louis. He showed quickness and power vs Louis. Frazier (first Ali version) was a bit of a slow starter so Walcott could give him some early trouble but not for long. He doesn’t have the power to take Frazier out so Joe will wear Walcott out and overwhelm him. TKO 9th or 10th round.
Walcott was very tricky, and had good enough power to keep Frazier honest for about five rds. But when Frazier gets his range and timing down, and stop over reacting to Walcott's feints and slick foot movement. He would grind Walcott down with far less issues then Marciano did in their first fight. Frazier with a brutal ko in eight or nine rds.