This is a topic I have been thinking about a lot lately -- Boxing vs martial arts!
First, you have to consider chumps vs chumps. A fight between boxing chumps and martial arts chumps is much closer than you might think. I'm talking about guys who just practice on weekends or for an hour a day. Most, including myself until a few weeks ago, would believe that martial arts would be superior. But actually, people trained in karate, wrestling, etc do not practice fighting the same way as boxers do. They practice techniques and moves endlessly, but the sparring is not the same. They do not really fight, they just practice techniques on each other! With boxing though, you really are fighting when you spar. Boxers are used to taking tough hits. It's a big part of the training to be able to endure hard blows and remain standing.
Now look at this video -- It is no-name boxers fighting no-name karate students. The karate guys look pathetic and weak!
http://www.youtube.com/watch?v=rNxaNAm_fWQ
Professional/master level is another story! I mean guys who live on this stuff. Guys who train 7 days a week like a full time job, have a team of trainers and stuff to guide them, prepare extremely healthy food, etc. Think about where the training effort goes: So much of what boxers do relates to endurance and conditioning. Mike Tyson used two hours of cardio 7 days a week! That's some hardcore training, but useless in a sport like MMA where the fight is usually over in like 3 minutes! You are much better off to spend your time on fighting/technique practice.
As far as actual fighting style, I think that boxing itself is a lot more viable than people think. I have a found a bunch more videos of even pro-am boxers beating martial artists in the ring. The kicks are not as powerful as people think. However, it does appear that wrestling and grappling techniques truly are the top of the heap. I am not a big MMA follower, but I believe that grappling has proven to be the dominating/essential technique in that sport as well? As much of a fanboy as I am, I don't think even a GOAT boxer like Tyson would be able to beat a grappling expert like Gokor Chivichyan.
But what about Bruce Lee? He has tons of hype and legend on his side. But how powerful was he really? How much would the height and weight disadvantage count for?
I think saying stuff about how Bruce Lee would break Mike Tyson's bones in 5 seconds, or that Bruce Lee wouldn't even get hit is really silly!
Ultimately I have to go with Tyson. The strength, height and weight counts for a lot! The advantages of Bruce Lee are real but greatly exaggerated!