I think Hughes will win, he is still in his prime, The ufc has changed since Gracie has last fought there, fighters have a better idea of what to expect from his jujitsu , and Royce can't take advantage of unprepared fighters like before,(Gracie can adjust I know),however Hughes will probably be the smallest opponent Royce has ever faced in the ufc so that gives him an edge too, Hughes seems like he can overpower Gracie almost as well as Kimo did years ago (granted Hughes isnt 260 or so like Kimo was! but he doesn't have a ponytail either,) I think it can be a great fight, I also realize that it can be liddel -couture 1 where the old guy beats the younger guy and makes a career comeback or Tito-Shamrock where the old guy comes in with his gloryfied career and achievements only to be defeated( I know his knee was in bad shape) by the younger more advanced/prepared fighter? Hughes can't match Gracies jujitsu techniques but Gracie can't match his strength ,youth, and wrestling, I know there is a lot more to it, but I have to go with Hughes,