Toney was technical to good for Max. Max had a great right cross but James was a superior Counterpuncher.
Schmeling should probably enter the fight with the gameplan he used against Sharkey the second time. He was constantly the aggressor, yet not reckless as in their first fight where Schmeling left himself open for counter punches. I think Schmeling would confuse Toney with his awkward style and outwork him. There would be some brilliant counter right hands in this bout.
Max would befuddle him with his style and trouble him with his workrate. And when Toney´s counters would get countered with much more power he will get cautious. Over 12, Schmeling by UD. Over 15 we may see a TKO.