You can't compare the 1940's system to the present. They both have it's flaws.
In one, you could hold on to your title for years and not get stripped, contenders could be ducked and deprived of a title shot forever because they're not connected; The title could be controlled by the mafia etc,.
And now you have four sanctioning body organizations with it's own faults. Wlad Klitschko might have an asterisk attached to his title defenses but I still view the full 15 title defenses as 15 title defenses. As in, he won a Title defended it until he won more titles and unified. He didn't become a "REAL" Champion because he defeated Ibragimov (who also wasn't a real Champion) or Chagaev (who wasn't a real Champion) or David Haye (who definitely wasn't a real champion).
It's his total accumulations of Championship wins that makes him a REAL CHAMPION. The overall body of work and the clear/dominant and consistent manner in which he did it (I.E. no split decision/robbery controversies).
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