Canelo would go the distance and the judges would probably give him a draw. But in terms of who would win the actual fight, Pac all day long. The JMM series created a false impression of how talented Pac was at his peak. JMM was the only fighter of that era who could take a prime version of Pac to the limit.
Well, Khan is long, but his style never really made that work. Sure, he boxed and moved lots but he stood deep and threw combinations coz he loved his speed. That, his aggressive nature, and his **** chin made him exciting. Pacquiao was much better on the back-foot (and every other aspect) he just didn't do it much. Canelo at that point was a counter-puncher first, but would get aggressive when his opponents didn't come to him. He's never been very good at it, relatively of course. Look at the Lara, Trout, Khan and Mayweather fights. When Nelo had to lead he wasn't as effective, especially against the southpaw Lara. Lara's quick feet and range management were what he virtually beat Canelo with. Pacquiao is better at both. In fact, Canelo's big success came from going to the body, and going to the body is very rarely more effective vs a smaller guy. Canelo did also lose to Floyd around that time, and the class difference between Floyd and Pacquiao isn't as wide as their fight would tell you. Since the OP specifically mentioned the Margarito fight, I see no reason why Pac wouldn't fight like that, moving in laterally, turning the slower-footed fighter and moving back out. Canelo would get his shots in, but his power is hardly bone-shattering, and he's proven to have issues with speed and southpaws. Plus his main offence isn't gonna be as efficient as normal. I don't why the big three are acting as if picking Pac is sinful, Canelo at 154 was nowhere near as good as he is now. And Pacquiao, at WW+, isn't as one-dimensional as he's painted as, he's just small. I'd say Pac wins on points, but Canelo being is too big isn't out of the question.
Ginger doesn't fight anything like JMM. He counter punches and that's it. In fact Canelo is closer to Cotto than he is Marquez
LOL Yeah sure, Canelo took all of GGG's best punches for 24 rounds but a guy who has about 1% KO rate @147+ would have really put a dent on him.
Canelo is faster, stronger and has better defensive skills than Marquez. And as you mentioned he's no slouch in the counter-punch dept. That spells disaster for Pac.
Canelo is a bigger version of Marquez with better defense and chin, Canelo kills the smaller Pacquiao stop having wet dreams
Canelo is flat footed and slow. He won't last for pacman in 12 rounds. His corner will make him quit to save his boxing career