I heard rumors of this being the reason he was so out of it in the 3rd round. I also heard a lot of people saying (and still saying) that it's no excuse, pain is part of the game.
Well, it may not be an excuse - but it is a REASON for why he lost the fight. Sure, pain is part of the sport, but sometimes overcoming pain isn't enough - if you hurt your body in such a way that it just doesn't FUNCTION properly, you're screwed - even if you ignore all the pain you're in. If it won't work - it just won't work.
Anyone who has had an injury to their ribs (I have on three occasions) knows that there's often NOTHING you can do to resolve that problem. Breathing, movement, and strength are gone. Pain or not, you're in deep shit.
That aside, I was REALLY impressed with Penn in rounds 1 and 2. He was picking Hughes apart and doing a fantastic job sprawling and working on the ground... extend the 2nd round by 30 seconds (or less) and that match would have been Penn's. Kudos for him for sticking it out in 3 even though he was hurt.
Hughes could have been a little less arrogant afterwards... And is it just me, or did Dana White look like he was ready to sodomize him? Man that was one happy guy after that fight.