I really like Ness, but the Hawkeye Homer in me says that a healthy Dennis is a whole new problem for him. Yes, Ness deserves to be ranked higher now, because Oliver took advantage of Dennis's mat rust. But if Dennis is healthy (BIG "if"), he's a real handful at 133 (See Gomez.) If he can dominate Dennis, then I'd say Ness is the favorite for the title and maybe the Hodge.
Let me put it this way. I'd much rather see Ness get the Hodge than Varner.