I used to think Cervantes, but nowadays I think Arguello's durability and power even at junior welter, are too much for Kid Pambele.
Cervantes is one of the most underrated fighters of all time. He'd be far too much for Alexis at 140. Arguello might last the distance, but Cervantes gives him a pretty good beating, and wins clearly.
I think Cervantes by decision. Alexis only fought at 140 lbs at the end of his career while Cervantes fought 140 lbs in his prime. He was even able to hold a belt when he was in his late 30's. I think this would be an excellent matchup. Two tall guys with good reach. It would be a chessmatch. Neither guy moves lateraly much. Both guys have pretty solid defense, with Cervantes maybe holding a slight edge in that department. Both guys have solid chins. I think Cervantes could eke out a close decision.