The faded Margarito could have lost against Martinez. After Mosley the Mexican was no longer the same, as was also seen in the rematch with Cotto and a more experienced Martinez, like the one who defeated Williams, could have beaten Margarito in my opinion, even if Martinez did not like the Mexican's style, it was clearly seen in their match. One last thing, in my eyes the hand wraps issue of the match with Mosley has cast a big shadow on the Mexican's entire career.
Martinez was pretty green when they fought the first time. I think Martinez really hit his stride around 2008 which was almost a decade after their fight. Martinez didn't start boxing until a few years before that fight and just wasn't ready for Margarito who was really htting his stride. Martinez was a far better athlete and once he learned how to use that athleticism, he flourished and became a hall of famer. I do think Martinez was the better fighter prime for prime. Plus, he wasn't a cheat like Margarito. Loaded gloves is pretty ****ed.