JMM would do well to fight Valero. The reason being is that Valero is a lesser version of Pacquiao, and JMM beat Pacquiao clearly in their second fight. JMM has dropped off a bit, but he's still got enough in him to be able to beat Valero.
JMM beats Valero and then retires.. in an ideal world. He'll most likely go after Amir Khan and get beaten by the cherry picking team Khan because Khan is a styles nightmare for him at this point. It's amazing that Khan managed to avoid Maidana & Bradley and has now ended up with a fight against Paulie Malignaggi. Shocking.