The fights he'd be taking are: Baby Luis 2x Ismael Laguna Sugar Ramos Raul Rojas Howard Winstone 3x Floyd Robertson Jose Legra Johnny Famechon Kuniaki Shibata Eder Jofre
The question that's raised is whether one of the mobile boxers like Laguna or Famechon could potentially outbox him. However, I don't see Arguello losing to KO-prone Shibata or an old Jofre, though.
Arguello beats them all with the possible exception of Laguna being the wrong style for him. But Laguna really hit his stride at 135, not 126. Arguello vs Sugar Ramos would be a helluva war, but in the end Alexis' firepower and precision is too much and Ramos gets stopped.
I don't think Arguello of around the time of the Hafey/Marcel/Legra fights would lose to Baby Luis. Ismael Laguna would beat the Arguello that fought Marcel or Olivares. Especially in a ten rounder. I don't think a small pressure fighter like Sugar Ramos beats Arguello. Rojas and Robertson plainly, aren't good enough. I have no doubt that a trilogy with Howard Winstone, and fights with Jose Legra and Johnny Famechon, Arguello picks up at least one loss. Shibata just doesn't have the chin to beat any Arguello, and I don't that Eder Jofre was a good enough to beat a featherweight equivalent of say, the second Pryor fight.
For the life of me I cannot envision Howard Winstone ever beating Arguello, I don't care if they fought 100 times. Winstone would have success, but Arguello would come on down the stretch and I don't see Winstone holding up under the power.
Arguello nearly lost to Torres, was down on points vs Castillo and actually lost to Fernandez. I don't think it's a given he goes 5-0 vs those guys. I don't specifically think he would lose to Winstone.