Interesting list. I do agree that Conor should be number one, especially given what he has accomplished in the past year (2 belts, wins in three weight classes, KO'ing prev #1 in one punch), but Im wondering why do you have Stipe so high? Also, I agree that Khabib should be WAY up on anyone's list, think it's absurd if he's not, considering the fashion in which he obliterates absolute world class talent. I think the equivalent for Khabib can only be found in a young USADA free Jon Jones, just in terms of sheer dominance.
I also try to take into account many variables and give credit to guys that take risky fights, fight up in weight, take short notice replacements, opposed to fighters that play it safe and pad their records; i.e. GSP and MM. For example, I would discredit Conor much more had he lost to Aldo/Eddie on a full camp, full prep time vs losing to Diaz on a week's notice and at a weight class he was not planning to fight at. I think while orchestrating a P4P list, one must take into account these many variables per each fight and not just the L's and W's. This is also why I would put a guy like Bisping or Fedor higher up on an all time P4P, because many of their losses came to juicers or fighting against guys on what was likely an uneven playing field.