This is how I'm starting to see it also. Donaire is awesome, glad he's finally getting his props. I wonder how far he can go up? He doesn't have the same kind of frame as Pacquiao.
I don't think those kind of parallels/expectations are fair, mate, Pac's a fucking freak. :: If he wins a featherweight title one day he'll have done incredibly.
Pacquiao has always been legit, but he's improved tremendously since his flyweight days, and despite his size, is more suited to featherweight and above. Like I've said before, Manny seems like a natural featherweight really. I'd lean towards Donaire. He is/was a formidable flyweight.
I've only seen a little bit of Nonito so far but he's already a top 5 P4P guy whereas Manny was pretty crude @ flyweight. It's probably an entertaining fight though.
I'd take Donaire at any weight to and including 122. I stop there only because I'm not yet convinced Nonito grows into a top featherweight. He could, but not fair to project such greatness yet.