I'm such a die-hard Bute fan that I'm biased in his favor so take this with a grain of salt.
I liked that last round against Grachev. It has me thinking Bute still has it. However, the Grachev fight as a whole made me think twice about him; I must admit. However, a point can be made that Grachev is tougher than advertised and has a style that is comparable to Froch's. He was the exact opponent Bute needed to face and that he ended the fight strong is a good omen. Is he over at the top level? Maybe. Could he beat Arthur Abraham, Robert Stieglitz etc.? Yes.
People say Bute was overrated. I just don't get it. Pre-Froch fight, when you compare his performances against common opponents, Bute performed better at every instance. Watch Froch against Johnson or Ward against Miranda and Bika. Bute did better. He stopped Miranda and dominated Bika and Johnson. Froch took a split decision against Johnson and Ward had difficulty with Bika and couldn't put down Miranda.
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