I think people should take into account that Baer had the tools to beat Dempsey and his style was right to do so. I'd still take Dempsey because of his consistency and speed advantage, but Baer wasn't easy to stop and we've seen Dempsey struggling with right hands in Firpo and Brennan fights.
Dempsey KO 4-5, the skill difference would be very apparent. Dempsey had far superior footwork, head and body movement, certainly ring IQ, knew how to throw non-telegraphed punches, his style was inherently defensive. Max Baer? He had a dang good right I suppose....
I would expect Jack Dempsey to win. From what I've seen, Jack knew more than Max Baer. Jack was faster. Jack's style was more deceptive and multifaceted. Jack was just as tough as Max, and he hit at least as hard if not harder than Max. Max had that right hand and could score a knockdown with it. And Jack could score several knockdowns. I cannot envision Max beating Jack Dempsey over 10, 12, or 15 rounds. As for the odds, I would make it about 7-1 in favor of Jack Dempsey.