I agree. Toney wins by a UD 9-3, 10-2. Tito's a more truer Jr Middle and Toney was a truer lightheavyweight-cruiser.
Toney wasn't all that good @ 160. He was particularly vulnerable to fighters with good punch output and stamina. Trinidad was vulnerable to a jab and movement. Toney was a plodder, even @ 160 and never used much of a jab. He lets Trinidad into this fight. Toney in a close, controversial decision, after visiting the canvas.
I think Toney wins, but it isn't easy or so dominating like others have said. Yes Trinidad was better at 147 and 154, but he wasn't some incredible undersized middleweight. He was a big welterweight who had trouble making 147 and had even fought at 154 in 1997 against Troy Waters, but went back down for the big payday against Oscar when he went to 147, and got it a couple years later. Toney was inconsistent at 160 (as he basically always has been). Trinidad was more of a plodding slugger in love with his power at 160 than he had been in earlier years in the mid 90s, but he still had terrific punch selection and power. Toney's a slick guy but he doesn't use much movement and stays in the pocket, and he will get hit with some good shots. Toney by decision or late stoppage, but it won't be dominating.
There would be nothing competitive about this fight. JT kicks the shit outta Tito every round, and stops him within 10.