Original 5, no cap at heavyweight 
Jack_Bauer -That would actually be much safer to fighters long term health alsorockwell - 155
200
Over 200
no gloves
Men's:
125
135
145
155
165
175
185
195
205
206-235
236-no limit
Women:
120
135
226+ No limit
225
205
195
185
175
165
155
145
135
125
35 pounds.
I'd have CFC, child fighting championships. It would be a throw back to the old days (pre-UFC 100) before there was any real skill.
FW-150
LW-160
WW-175
MW-190
LHW-205
HW-265
I increased FW to MW each by five pounds. I did this to decrease the difference between MW and LHW.
I don't care about anything below FW.
I obviously changed my mind about the HW limit.
Get rid of of 125 and add 225.
Thingading - Men's:
225+
200
180
160
140
(5 divisions is enough for me)
Women's:
115
135
150 (If there are ever enough female fighters this size and/or if those naturally weighing 150 or more don't cut much weight and fight at 150 if they choose)
140 catch weight for Ronda vs. Cyborg - just fight already, you two
20lb difference between classes is a good set up I think.
As for the womens, 115 and 135 is good. I don't think there is enough 155 out there really. Its one of the reasons RR decided to move to 135 in the 1st place.
Some great answers here. I agree weight classes should be out when you have guys who are natural middleweights fighting at heavyweight just because they're fat which is actually a disadvantage in itself.
Bring in X-ray scanners and calculate the weight of a fighters skeleton, they can choose to put as much muscle or fat on as they choose.
It's turned into the UWCC Ultimate Weight Cutting Championships where you have middleweights like Rockhold that have bigger frames than heavyweights like Cain.
Open weight was great because it was the baddest man on the planet not the best midget in the world championship.
As a wise man once said "Ain't no weight classes on the street, homie".