Both Ali and Holmes were past their best but it was still considered big upsets both of them losing to the Spinks brothers.Who has enough left to take this matchup, the 1978 Ali or the 1985 Holmes?
If Ali showed up in the same shape as for the Spinks fight, it's probably a duplicate of his 1980 fiasco ... but he'd get in shape for Holmes. He'd have a little more skill, strength and stamina than when he fought Leon, but I think Holmes in 1985 was still stronger and had more in the tank - he'd definitely lost a step or two, but not as bad as Muhammad. Either a late stoppage, or cruising to an UD.
Ali was showing serious signs of Parkinson's syndrome at that time and should not have been in the ring. Holmes was not in the best shape for Spinks 1. Holmes wins via 15 round decision in a one sided bout.
Holmes by wide decision, if not an accumulation stoppage Holmes had declined by 1985 by not THAT much in comparison with 1978 Ali.
Holmes had more trouble with spinks strange fighting style than anything. He should have won the rematch. But Ali by the first spinks ft was slipping fast. So I see Holmes having no trouble beating Ali over 15, leaving his face swollen.