I think its Hatton is going to be the underdog.

Pacquiao vs Dela Hoya = Pacquiao
Hatton vs Dela Hoya = Dela Hoya

so therefore;

Hatton vs Pacquiao = Pacquiao

When Manny Pacquiao goes into the ring he fights for his country, the Philippines, and tens of thousands of Filipinos worldwide. He is a tremendous athlete and unlike any other champion we have ever promoted. When Manny walks to the ring he carries the weight of his country on his shoulders and he fights with all of his heart, every second of every round.