That is a huge understatement 33. He is one of the best HW's ever to grace a Mixed Martial Arts ring. Many people feel (including myself) that if there were no Fedor Emelianenko, Nogueira would still be the champion in Pride and remain so for as long as he wanted. When it comes to bjj guys in the HW division, in my opinion he is the greatest Brazilian Jiu Jitsu player to ever step into MMA.
Also if he would ever make the move from Pride to the UFC (I doubt that it will ever happen), he would definitely be the champ in no time at all.