Who should he have fought?
Cotto in 2005? Cotto was completely inexperienced at that time. Like, 17-18 fights or something?
Had Floyd beat him then his haters would say he just beat an underdeveloped inexperienced Cotto.
This fight will probably come off one day (assuming Cotto makes it past Judah). Let the damn thing get juicy a bit.

So who should he have fought? Margarito? What has Margarito done to earn a shot against Floyd?

Hatton? Hindsight makes it look like Floyd is in a completely different league than Hatton. The fight sounded like a good idea 2 years ago, but judging by the way they developed and seeing as Hatton is uncomfortable fighting at 147 and Floyd is jumping into 154 against a future HOFer in his first fight, it doesn't appear as if Hatton would've stood a chance against Floyd.
I really don't see Floyd - Hatton coming off any time soon.

KT? Would Floyd really have gotten recognition for beating a 36yo KT?

Who should he have fought instead of what his roster suggests?
Floyd never got a Hagler or Hearns. Whose fault is that? Not Floyds.
So he goes out and completely dominates whatever IS out there.

God dammit I can't wait 'til tomorrow.