The heavyweight division is not good. It's in a constant state of flux. This is evidenced by many things. Strikeforce waved the white flag for their HW division because they naively thought they could put together a HW tournament over the course of 2011 without a single participant getting hurt. Now, the tournament is scheduled to wrap up sometime between the spring of 2012 and my death (tentatively scheduled for 2056).
This is more of a testament to the fact that tournaments don't work the way they're supposed to on paper, but I think the fact that they just threw their hands up and said "screw it" speaks volumes. Never mind Strikeforce, though. The UFC put on two heavyweight fights this year that truly captured the imaginations of both hardcore and casual MMA fans alike; Cain Velasquez vs. Junior dos Santos and Alistair Overeem vs. Brock Lesnar.