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Kim O'Reilly, CBS Sports

In a sport as dangerous and diverse as mixed martial arts, where there are so many ways to lose, it can be difficult to sustain greatness at the highest level and build a memorable title reign. It's even more rare to come back after losing your title to regain it, especially at an advanced age. 

If it already wasn't apparent that the UFC women's flyweight division had a living legend on its hand in the form of Valentina Shevchenko, the 36-year-old native of Kyrgyzstan reminded us of her greatness on Saturday on the grandest stage of them all inside The Sphere in Las Vegas at UFC 306. 

Tasked with defeating breakout Mexican star Alexa Grasso in their third meeting for the 125-pound title formerly owned (and defended a UFC women's record of seven times) by Shevchenko was only made more difficult considering the event was themed as a love letter to Mexico's fighting history and took place on Mexican Independence Day weekend. It was also one full year after their second meeting as both fighters paused over the spring to film "The Ultimate Fighter" as rival coaches. 

But despite being submitted in their first meeting before being forced to settle for a disputed draw in their rematch (where a questionable 10-8 card in Round 5 cost her a win), Shevchenko etched her name into MMA immortality by adding a second title reign at flyweight. And did so in absolutely dominant fashion, no less. 

Yes, there were boo-birds unhappy with the lack of action in the fight. But that didn't stop the calculated Shevchenko from proving her greatness by quieting Grasso's boxing with timely counter shots before routinely taking her down with ease and dominating long stretches of ground position. 

Shevchenko proved to be the fitter, smarter and more explosive fighter at an age where diminished returns at the title level are typically the norm for former champions. But Shevchenko has very few holes in her game and a passion for improving and evolving her game that is simply unmatched. 

The only question left is whether Shevchenko has enough time to add on to her resume in a significant fashion. One avenue could be a return to 135 pounds, where eventual title showdowns against Kayla Harrison or even a trilogy with a returning Amanda Nunes could help Shevchenko make a case for being the best in history. 

Men's pound-for-pound rankings

1. Islam Makhachev -- Lightweight champion

Record: 26-1 | Previous ranking: No. 1

A closer-than-expected victory over future Hall of Famer Dustin Poirier at UFC 302 in June did nothing to move Makhachev off of the top spot in the rankings. Despite suffering a cut over his left eye from an elbow, Makhachev held off a late rally and put Poirier to sleep in Round 5. Makhachev's win, which extends his streak to 14 (two shy of Anderson Silva's UFC record), also moves him into a tie for most title defenses (3) in lightweight history.

2. Jon Jones -- Heavyweight champion

Record: 27-1, 1 NC | Previous ranking: 2

Jones' first title defense at heavyweight, scheduled for last November against former champion Stipe Miocic, was canceled after "Bones" suffered a pectoral tear in training. Jones, who turns 37 this summer, is expected to return against Miocic this November despite cries from critics that Jones, who has threatened retirement, is purposely avoiding interim titleholder Tom Aspinall. 

3. Alex Pereira -- Light heavyweight champion

Record: 11-2 | Previous ranking: 3

The 36-year-old Brazilian slugger not only headlined the promotion's biggest event in history at UFC 300 in April by finishing former champion Jamahal Hill, he got called in again (despite a broken toe) to replace Conor McGregor at UFC 303 in July. In the main event of International Fight Week, Pereira knocked out Jiri Prochazka in their rematch. Up next is Khalil Rountree at UFC 307.

4. Ilia Topuria -- Featherweight champion

Record: 15-0 | Previous ranking: 5

A changing of the guard atop the 145-pound division at UFC 298 in February might have produced the next breakout star of the sport. Topuria did everything he said he would against Alexander Volkanovski, including finishing him in the first two rounds. A monumental title defense awaits for Topuria against former champ Max Holloway at UFC 308 in October. 

5. Dricus du Plessis -- Middleweight champion

Record: 22-2 | Previous ranking: 5

Say what you will about his lumbering and often raw style of forward pressure, the native of South Africa has achieved tremendous results throughout eight unbeaten trips to the Octagon. The defending 185-pound champion added Israel Adesanya to his hit list at UFC 305 in August, which also includes fellow former middleweight kings Sean Strickland and Robert Whittaker. Simply put: DDP is on fire. 

6. Merab Dvalishvili -- Bantamweight champion

Record: 18-4 | Previous ranking: Unranked

After losing his first two UFC bouts, the native of Georgia has run off an insane 11-fight win streak that culminated in a storybook victory over Sean O'Malley at UFC 306 to claim the title. The cardio king neutralized and outworked the defending bantamweight king on the ground and got the better of him in the striking before being forced to hold off a "Suga Show" rally in Round 5. 

7. Max Holloway -- Featherweight

Record: 26-7 | Previous ranking: 6

Don't call it a comeback, Holloway has been among the P4P elite for years. But it has been this particular three-fight win streak at age 32 that has been so rejuvenating. Two years ago, following his third defeat to Alexander Volkanovski, Holloway's future was in doubt. Now, he's the reigning BMF champion after his walk-off knockout of Justin Gaethje at UFC 300 and will draw the next shot at regaining his 145-pound title against Topuria in October.

8. Belal Muhammad -- Welterweight champion

Record: 24-4, 1 NC | Previous ranking: 7

With an unbeaten streak that reached 11 fights when he upset Leon Edwards to capture the welterweight title at UFC 304 in July, the time to doubt or undermine Muhammad's world-class skills is no more. At 36, the proud Palestinian-American from Chicago also became the oldest fighter to win a UFC title at 170 pounds or below. 

9. Alexandre Pantoja -- Flyweight champion

Record: 28-5 | Previous ranking: 9

After relying much more on his iron will than his P4P skills to take the flyweight title from Brandon Moreno last summer, the Brazilian submission expert has stayed busy since with a pair of title defenses against Brandon Royval (in their rematch) and Steve Erceg. Pantoja's passion and dogged determination has become his calling card of late as his title reign continues to grow

10. Leon Edwards -- Welterweight

Record: 21-4, 1 NC | Previous ranking: 10

Fighting in his adopted backyard of England provided few advantages for Edwards against the crisp boxing and relentless pressure of Belal Muhammad as the inspirational 170-pound title reign of "Rocky" came to an end at UFC 304. Edwards blamed the early morning start time for his flat performance despite rallying to cut Muhammad late in Round 5.

Dropped out: Sean O'Malley
Just missed: O'Malley, Robert Whittaker, Tom Aspinall, Sean Strickland, Umar Nurmagomedov

Women's pound-for-pound rankings

1. Valentina Shevchenko -- Flyweight champion

Record: 24-4-1 | Previous ranking: No. 3

The future Hall of Famer cemented her legacy even further by becoming a two-time champion in her trilogy against Alexa Grasso at UFC 306. At 36, Shevchenko defied age and a one-year layoff to pitch a shutout of Grasso over five rounds thanks to her grappling and counterpunching. A lifelong student of martial arts, Shevchenko is only getting better. 

2. Zhang Weili -- Strawweight champion

Record: 25-3 | Previous ranking: No. 1

Zhang improved to 9-0 in the UFC against everyone not named Rose Namajunas when she outlasted Chinese countrywoman Yan Xiaonan at UFC 300 and did so by relying on her cardio, IQ and improved grappling after nearly scoring a pair of early finishes. Her toughest test may still be to come, however, in the form of Tatiana Suarez. 

3. Manon Fiorot -- Flyweight

Record: 12-1 | Previous ranking: 4

A shutout five-round decision over red-hot Erin Blanchfield looks to be the final hurdle that the 34-year-old native of France will have to clear en route to a title shot. Fiorot's takedown defense and ability to avoid danger on the ground set the perfect stage for her pinpoint striking to shine. For now, Fiorot will need to wait for the Grasso-Shevchenko rivalry to play out. 

4. Tatiana Suarez -- Strawweight

Record: 10-0 | Previous ranking: 5

Despite losing nearly four years of her prime due to chronic injuries, Suarez is back on the scene in a big way. Her dominant submission of former champion Jessica Andrade in August might be all Suarez needs to immediately return to 115-pound title contention. Few can match her grappling prowess alone and even less can equal the relentless competitive streak which fuels her resolve. Provided, she can stay healthy. 

5. Alexa Grasso -- Flyweight

Record: 16-4-1 | Previous ranking: 2

The native of Mexico failed to close out her title rivalry with living legend Valentina Shevchenko with a bang in their trilogy bout at UFC 306. Instead, Grasso was dominated over five rounds in a clean sweep that saw the defending champion ineffective on her feet and routinely controlled on the ground. This was a flat performance to snap a run of steady evolution for the well-rounded fighter. 

Dropped out: None
Just missed: Kayla Harrison, Erin Blanchfield, Rose Namajunas, Raquel Pennington, Julianna Pena