The Muhammad Ali who beat Foreman vs the Larry Holmes who stopped him in 1980? Holmes was one of his chief sparring partners during his preparation for the Foreman fight in particular...and Holmes gave him hell in sparring from all accounts. However that is sparring...and some fighters simply work on their weaknesses during sparring and are not necessarily trying to "win" their sparring sessions. So we're pitting the slightly faded Ali (but still very capable) against the Prime Larry Holmes. I see a fascinating chess match. Ali by close decision.
Ali's a bit too far past it at this stage to negate Holmes. I see a 9-6, or 8-6-1 style decision for Holmes.