I think Bute would be a good opponent but Calzaghe will never face him. In his head, he cleaned the 168 pounds division and doesn't want to do it again. Beside, Bute is not a good risk-reward fight. I would not bet my house on Calzaghe on this one, he's not getting younger and his hands are not getting healthier. Dawson would be a little bit better, Calzaghe would have 3 belts at 175 pounds and could say he beat a young star. Not sure it's enough to make Calzaghe out of a retreat. I think Calzaghe would win. In fact Hopkins could also win against Dawson, who is not the best to adjust in a ring. So, even if Calzaghe retires, he could say he beat Hopkins who beat Dawson. Why fight himself?
Actually, Hopkins and Kessler would be tougher fights for JC than Bute. I may change my mind next week after the Andrade fight but as of now, JC easil handles Bute. Easily. On top of that, you're right, he has nowhere near the name he'd need to get a fight with Calzaghe. Froch would make Calzaghe more money than Bute, by virtue of it being a big domestic dust up.
I think he should either rematch BHop, and beat him again, and/or go ahead and fight Pavlik and Knock him out just to one up Bernard. I think if Dawson rematches Glen Johnson and wins decisively (instead of losing like he did last time) then he should go ahead and fight Dawson.
Calzaghe would not handle Bute so easily IMO. As for Kessler and Hopkins, they may be a tougher hallenge, but it's a job already done.
I don't think he'll move back down but I agree I would like to see that over any other fight. It's the only one worth his while moving back down to 168 for.