I think I could bet on most of the higher level fights with 70%+ accuracy, so yeah, pretty easy to bet on.
The problem is that a lot of those higher level fights have huge favourites that don't pay very much - Jon Jones this weekend, for example, is only paying something like $1.14 to win. So picking around 70-80% right is all well and good, but it might not be enough to show a profit.
I'm doing a bit of testing at the moment to see if I want to get back into sports betting or not (tried it briefly last year and was spectacularly unsuccessful), UFC is one of the sports I'm looking into. My picks have been a pretty horrible 6/16 since mid-July and if I'd been betting them I'd be down about 4.5 units.
If I were betting this weekend it'd be on the Mitrione/Schaub fight to end by KO. Might consider a value bet on Pat Healy if he's paying high enough too, the fight doesn't have
odds out with our local sportsbooks yet.
Other than that I think Jones will almost certainly retain the title but, as discussed above, he's not really paying enough for there to be value in betting on him. Ditto for Barao.