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Mosley seems to be the favorite to get the fight with Pacquiao in May. He is a huge name, and that equals plenty of money to go around. Mosley has looked awful in his last two fights, a loss to Floyd Mayweather and a draw with Sergio Mora.
Mosley may not look as bad against Manny. Manny doesn't have the defensive skills of Mayweather, and he comes to bring it all night, unlike Mora, who seemed to want to do anything other than engage. That could lead to openings for Mosley to catch him coming in.
A toe-to-toe battle would be exciting, for as long as it lasts. If Mosley truly can't pull the trigger anymore, as evidenced in his last two fights, then he will be in for a brutal night.