I'm surprised that the majority of the responses here involve things that take place INSIDE the ring... do you guys really feel there's a big problem with the quality of action that takes place inside the ropes? I sure don't.

Boxing's problems are located outside the ring. If I had one wish, I would remove the multiple commissions that have belts in each weight division.
Each weight class has three or 4 "champions", and each of those champs has a different "mandatory contender," and that creates a system that makes it tough for beltholders to face each other and unify. There should be one belt per weight class.