I love Ray, but 168 was not his best and Joe fought great at this weight. I think Joe would win a UD with a very wide margin against Ray at this weight.
Ray's foray above middleweight was farcical at best. he took money fights and glam fights but didn't enhance his legacy at all imo. he'd have fared much better staying at mw and facing the new crop of contenders. Joe, for now, is the greatest smw in history. not just that, he was comfortable and natural at the weight, at this stage in ray's career joe probably had the handspeed advanatge also. Joe sweeps a wide UD imo.