Brent Brookhouse made the case the other day over at Bloodyelbow:
The only thing keeping Fedor on that pedestal right now is the fact that Lesnar, Carwin, Velasquez and dos Santos don't have the established resume yet, but one of them will within six months. Assuming the Lesnar/Carwin winner faces Cain Velasquez in 4-6 months, it would be an absurdity to think that the winner of that fight is not the world's current #1 heavyweight. The UFC "big four," representing 4 of the top 5 heavyweights in the world, are all going to continue to battle it out in the UFC shark tank while Fedor hangs out in the lazy river with marginal top ten fighters. At some point the competition a man faces has to matter in determining who the best in the world is at that moment. Once one of the UFC heavyweights has established himself and gotten the two big wins they need, it will be time to re-evaluate who is the heavyweight top dog.
I pretty much have to agree with Brenthouse here. What a fighter has done in the past can only count for so much, especially considering that hasn't continued to defeat the best of the best. If the Los Angeles Lakers team left the NBA and went overseas to compete for 3-4 years, could you legitmately still call them the best team in the NBA at that point? Will the future matchups in the UFC involving Lesnar, Carwin, Velasquez, Dos Santos, and Mir dictate where you place Fedor Emelienenko?