When your only means to win is a guillotine there's really no game plan on earth that will help you against a fighter who knows how to not get guillotined.
Pretty much. In addition, GSP was training with Cody on a daily basis, whereas we as viewers are only seeing him in short clips of the show. I'm going to put more faith in GSP and his entire coaching staff (who are professionals and champions in the business) with their day to day training than my own opinion watching a few clips once a week.
I do agree that they should have been a bit more cognicent of the fact that Cody was gassing, but what can you really do? When you're fighting an altogether better fighter, go for the tried and true Jackson strategy: Hold him and get the W.