Carnera relied on his size ,he wasn't a puncher at anywhere near top level, neither was the Russian, and Valuev had a significantly better chin. I take him to win a boring decision .
I figure they would both finish on their feet. Size might win it for Valuev. Even Carnera would look small, but my impression is Valuev was slow while Carnera was rather fast for a big guy. Carnera to eke out a close decision in what I agree would probably be one of the all-time dullest fights.
Carnera had a speed and skills edge. I like him on points. Valuev was a solid hitter, but nothing special.