Good match up, I'll go with Conn by decision. Cerdan's got lots of power but Conn can take it. I think he'll find the range with his jab and take a comfortable decision in a pretty good fight.
Conn by wide decision.....better fighter overall, would deal well with Cerdan´s aggressiveness......and I´m a fan of Marcel......
Cerdan might be the most under exposed great I can think of. You just have to watch film of him. Sure he hits a ton, but he also had a very good defense with a high guard, and combines it with a pressure style that features accurate punches. Watch and you'll see. Conn was fast but his in and out style would likely get him caught by a stalking type of Cerdan. I would go with Cerdan here.