I'd fancy Pacquiao to dismantle Valero early as I believe he would have too much in the boxing skills department also Pacman has fought much the better fighters so that would pay dividends if the fight does materialise. Also if i'm not mistaken i think Valeros only aloud to fight in Texas if the fight was to take place in the states so I think it would more than likely be in the Phillipines.
As for Hatton though I would love to see this happen but I think this would be one step too far for Pacman as he bgan as a 108lb fighter and to fight at 140 against a natural jr welterweight would be an amazing achievement but a fight that i could only see Hatton winning.