Don't underestimate Gracie. He's a tough guy. He knows exactly what he's walking into. My only thoughts on the subject are that he's past his prime as a UFC fighter, and it's a young mans game.
But, I imagine that the Gracie camp has the best of the best guys to train with. The 'rules' of the match favor Hughes, but Gracie knows the score, and I hope he comes to fight.
Gracie and Hughes...Both are good fighters with heart.