Put me in the camp of not counting Edgar entirely out of this fight. This guy has been improving steadily in each of his fights, we are going to see somebody different when the BJ fight comes around.
Frankie's boxing has impressed me but I have no idea if its going to be enough against Penn. If it was the BJ of old I might say Edgar had a chance of wearing him down and out striking him in the later rounds. As it stands now, if Edgar's boxing is better than Penn's, BJ doesn't really have the option to change the fight up, I don't think he can take Edgar down, and Frankie could win a decision that way.
This is the best boxer BJ has faced and I expect to see a boxing match. I think its going to be one of those fights, (like the diego fight) where the first exchange is going to reveal pretty much how the whole thing is going to go.