The specter of St. Pierre's April 2007 loss to Matt Serra (Pictures) was definitively erased with his two-round demolition of Serra in front of a raucous Montreal crowd. With GSP now seemingly back in position for the championship reign that was anticipated from him last year, the French Canadian will make his first title defense later this year, likely against Jon Fitch (Pictures).
2. Jon Fitch (Pictures) (16-2-0, 1 NC)
Fitch picked up a high-quality win in March, taking out an underrated and largely unknown Chris Wilson. The problem was that he looked less than stellar in doing so, which has quieted much of the hype he brought into the bout. Nonetheless, with St. Pierre regaining the undisputed UFC title, Fitch will likely get his championship chance later this year. With his victory and Serra's demotion, Fitch skips from fourth to second.
3. Matt Hughes (Pictures) (41-6-0)
The sport's most celebrated welterweight is nearing the end, but he still has one or two fights left. The most logical bout at this point in time, and one that nearly all parties seem interested in, is the bout with Matt Serra (Pictures) that was nixed last December.
4. Josh Koscheck (Pictures) (10-2-0)
With a new contact in tow, Koscheck will climb back into the Octagon in July. This time around, he will meet the ever-game Chris Lytle (Pictures) on the Jackson-Griffin undercard. With Serra's loss, "Kos" rises from fifth to fourth.
5. Diego Sanchez (Pictures) (18-2-0)
After opting to stay at 170 pounds following losses to Josh Koscheck (Pictures) and Jon Fitch (Pictures), Sanchez signed a new long-term deal with Zuffa. He then absolutely destroyed Sweden's David Bielkheden (Pictures), serving notice to the division that "The Nightmare" is back. Serra's defeat sees Sanchez rise from sixth to fifth.
6. Jake Shields (Pictures) (20-4-1)
A back injury postponed his bout with Drew Fickett (Pictures). He anticipates being ready for June, when he and Fickett should put on a solid welterweight scrap. With the losses of Serra and Parisyan, Shields rises from eighth to sixth.
7. Matt Serra (Pictures) (9-5)
The slipper dropped for Serra, who was destroyed in his rematch with St. Pierre. However, Serra might not be done in big bouts, as the potential for a clash with Matt Hughes (Pictures) seems high in the near future.
8. Thiago Alves (Pictures) (14-3-0)
The rapidly improving Alves has emerged into a force in the ultra-deep welterweight ranks. He further validated himself with his biggest win to date over Karo Parisyan (Pictures) on April 2. While Fitch seems next in line for a crack at GSP, Alves says Zuffa has told him he's second in line. In this line, Alves debuts at No. 8.
9. Karo Parisyan (Pictures) (18-5-0)
Parisyan, who was set to challenge for the UFC welterweight title in November 2005, just had his title hopes take another hit when he was stopped by Thiago Alves (Pictures). With the loss, Parisyan drops from seventh to ninth.
10. Carlos Condit (Pictures) (22-4-0)
Condit was the marquee man for the WEC's recent foray into New Mexico, and the 170-pound champ didn't disappoint. He avenged his September 2004 loss to Carlo Prater (Pictures) with a first-round guillotine in front of his raucous home crowd. However, with the addition of Thiago Alves (Pictures) to the rankings, Condit falls from ninth to 10th.