I will join the consensus on this one.
Gracie was the man when nobody knew what he was doing.
BJJ dominated early UFC events as nobody knew much about it.
Todays fighters are very much aware of, and train heavily in grappling along with wrestling, clinching, standup and GNP. Hughes is also exceptionally strong for his size and has a dense farmboy physique.
Matt should win pretty easily.
The Hughes vs GSP fight rematch is the one that I think will be more interesting. I actually think GSP will take the belt when they meet again although it promises to be a good fight either way.