Pacquiao can't afford to be reckless. So despite Bradley prodding him about losing his killer instinct, I don't think Pacquiao will rush in without regard for Bradley's punching power. Pacquiao has always been a volume puncher and I think he will try to overwhelm Bradley with his output. But I think Bradley will match it and legitimately win this time. Bradley by 12-round decision.
The vision I have in mind is Lennox Lewis-Evander Holyfield. Lewis clearly won the first fight, but only got a draw; he won the second fight less clearly, but was awarded a comfortable decision. After the controversy of the first fight, and with Timothy Bradley being a much improved fighter, I can see the rematch being close, but Pacquiao receiving a unanimous decision.
I think this fight will be closer. Mainly because 1) Pacquiao is older, and he takes a lot of wear and tear because he's an offensive-minded fighter who trains like a maniac; 2) Bradley is better than he was last time, and he's fought a lot of top level opponents since then; and 3) I think Pac will fight the same way, but Bradley will be able to make some adjustments based on what he learned in the first fight. I still think Pac will win this fight, but I think it will be a little more even than the first fight.
I'm stealing what Max Kellerman told me when I interviewed him for my fight overview, because it happens to be exactly what I was thinking: The fight will be too close to call—if anything, I could see Bradley getting slightly the better of it—but Pacquiao will be awarded the decision in what amounts to a make-up call for the robbery of June 9, 2012.
There's been a lot of talk during fight week about the possibility that the judges will award Pacquiao a "make-up call" (sorry Eric), but I don't think it'll come to that. I think Pacquiao will win and it won't be close. He was all over Bradley in the first fight, and despite what's transpired since, the same two men will be in the same ring. Pacquiao by late stoppage.