Toney is just fighting because he likes the lifestyle I think, his speed and skills are seriously diminished. That being said he still has a hell of a chin and enough left to frustrate most fighters. I can't ever picture him getting up at the elite at HW and in fact I think if he was seriously making a move a greatness he would drop down to Cruiser. This is not the case though.
He can still get paid for putting in mediocre performances against mediocre opponents, which he will continue to do.