I don't know that Taylor could've held on, but if he hadn't been caught in the corner he probably would've gone down before taking as much punishment as he did. Then he might have had a chance to recover, for the moment at least. Being out on his feet, unable to defend himself, and held up by the corner, Smoger had no choice but to step in.

Pavlik was in the middle of the ring were he could go down if he got hurt again, so Smoger was able to give him a chance make it though. I think if Taylor had been a little more patient, and taken a step back at one key moment, he could've at least put him down again.

I'm gonna tape this fight for a friend, so I'll get to watch it again...