There are guys that Floyd could conceivably slip up against, if he's not on. Paulie isn't one of them. Paulie needs to be able to outbox his opponents to win. And he's nowhere near as good a boxer as Floyd (in fact Paulie's not a very good technical boxer at all, he's just quick), even if Floyd is fighting in 2nd gear. Paulie couldn't deal with Hatton's speed, he won't do any better against Floyd. If Floyd gives a shit, he'll tear Paulie's ass up. If he doesn't he'll cruise to an easy decision win in a horribly boring fight.
This sounds like it's just more posturing. But if it's for real, it's a tough fight for Manny. Clottey is hard to hit clean and appears to take a good punch.
I just think both Mayweather and Pacman's people are looking for a way to get leverage for when they ultimately resume their negotiations. I don't see why Arum would look to make a fight this dangerous against an opponent who draws fewer fans to his events than most Jr. Highschool tennis players. Hard to believe this is anything other than more posturing from Top Rank.