I dont think the fighters need to be any smaller or any bigger than they are now, just leave the divisions as is, no strawweights or super heavyweights.
Strawweights are basically Asian MMA freakshow fodder along with Super Hulk and all that bullshit.
I have no idea why ZUFFA brass are clamouring for this. At least with Flyweight there was a clear emerging scene, especially stateside which is arguably the most important factor for a division...and not to mention it isn't hard to imagine a future of talented 125lb fighters considering the precedent seen in other sports like boxing. (Pacquiao, Marquez, Salvador Sanchez, Pep, etc)
The only thing I recall about the 110s in boxing is Finito beating up on a bunch of no-hopers and no one caring.
Oh and Ivan Calderon.