in case Mayweather hasn't found his balls go down to 140 with: Bradley Khan Maidana Ortiz Alexander or go up to 154 with: Martinez Mosley Williams Pavlik Cotto (check) Margarito (check)
I say wait for 140 to play out and make a big fight with whoever emerges from the dust. or go down to 135 for a JMM rubber match if he beats Katsidis. The options at 154 are ****: Martinez is too big, too good. Mosley is old. Williams isn't marketable right now. Pavlik a 160 pounder and would probably re-infect his hand anyway once he realized he actually had to fight someone. Cotto rematch is actually an option, a farcical option for a 154 unification.
As I see it, it's really only down to two options. Mosley and Floyd. With JMM a dark horse should he choose to back up his trash talking and be willing to fight Pac at any weight. If they can't get Mayweather, it makes sense they go for a name fighter who'd help Pac generate the most PPV numbers possible in order to legitimise his claims of 50-50 against Floyd.
I'd say fight Calderon at a catch weight of 138 for Pac 154 belt. Calderon can come in at 115, all Pac has to do is make the 138. If Calderon win he can defend it at a catch weight of 108 again for the 154 belt.
martinez at 154. sure pac would be the underdog after what martinez did to williams. come on pac, for your last fight, make it the most interesting one!