Boxing is an extremely effective martial art. As you can see in the video boxing is all about speed, timing, and accuracy. The mechanics of Boxing are relatively simple, the difficulty lies in being precise with timing and understanding angles.
In this video you can see how your average street fighter stands very little chance vs a seasoned boxer. Notice also that grappling in this situation as a means of self defense would have been a bad idea since there are two attackers involved. http://youtu.be/jJUw7OXXGwg