I think BJ Penn's lack of conditioning may be a bit overstated....
Really...His conditioning was only an issue in two of his fights (he's had 16 MMA Pro fights)....The Renzo Gracie fight (K-1 Hawaii - which he won) and the GSP fight....(and in the GSP fight he blamed it on overtraining / physical fatigue)
Penn lost the second Hughes fight because of a torn rib muscle and not because of being gassed....
Sure BJ likes to party and get fucked up (heard he got hammered before both his seminars in Toronto) but when it comes to down to training for a fight he's a professional....
Finally got to watch the GSP / Penn fight....
Found a crappy video on the net that showed only the second and third rounds....
GSP was really lucky that he won that fight....I think that fight underscored how takedowns are given too much importance in UFC fights....
GSP only won the second and third round because he took him down but did nothing after the takedown ....No attempted submissions or effective ground and pound....
In the end; GSP suffered way more damage then Penn (who didn't even look like he had a scratch on him) yet somehow he got the win....
The UFC scoring system has got to change.....the current system is kind of fucked....