meldrick was not sure if he wanted to continue. the time left, IMO was irrelevant. if taylor wanted to continue, the ref would have let him.
This is boxing gents, and a Knockdown is just as good 10 seconds into the fight as it is 10 seconds before the fight's over. Very unfortunate for Taylor cause he was fighting like a true warrior and did not deserve to lose but it's plainly obvious that CHavez was putting a hurting on him. The ref gave Taylor the chance to prove he was well enough to continue and Taylor failed. simple as that. GOOD STOPPAGE.
Also if this was a 15 rounder, most of called the stoppage fair. Thus it showed the stoppage was fair, as the referee has only two things to worry about, that rules of the fight are followed and the safety of the fighter; he is NOT the timekeeper.
When it first hapened I was of the opinion that Richard Steele made a horble decision and "stole" the win from Meldrick Taylor. However over time I have come to my senses. People who suport the Idea that it was a bad stopage will often point out the flashing light that was right in front of Steele's face when he was making his decision to stop the fight and that there was only 2 seconds left. However the light indacated 10 seconds or less not an exact time. Had there been a big 2 in front of him it would have been a very bad if not the worst stopage in the history of boxing, but in reality Steele could not know the exact time left and had to make a judgment call. Hindsight is 20/20.