I think that top control is over emphasized, but not hugely.
As others have stated, the person on top is automatically ahead. The top fighter's strikes will deal a higher baseline of damage, and he will usually already have scored points of landing a takedown that brought him to that position. Excluding incidents where the bottom fighter is tearing an inactive top guy apart with elbows, it totally makes sense to favor the latter.
In regards to the GSP-Condit fight, no one is saying Condit won. I would, however, argue that someone who gave Rd 3 to GSP is scoring takedowns too heavily. CC dropped GSP and attacked with a flurry of punches and elbows to a downed opponent. For a few moments, GSP was in danger of being finished; that is worth way more than any takedowns and meager GnP that happened later that round.
Conversely, GSP dominated the rest of the fight. He was very active on top with his punches and elbows -- many of which got through pretty clean, despite what some say. I wouldn't give GSP much credit for passing into half-guard, though. That won't get you any points at a grappling tournament, nor should they in an MMA fight.
Highly opinionated but out of touch with the current MMA scene.
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