How does this play out? Taylor would have to be the favorite but his defense is leaky. On the other hand, Taylor's pace and handspeed would obviously be trouble for Tszyu.
As you said, given Tszyu's power and Taylor's lack of great defense, Tszyu is a live underdog. But having said that, also as you said, Taylor would have to be the favorite. The Taylor that beat McGirt in my mind would be too much for Tszyu.