boxing is in some way similiar to aikido regarding street effectiveness; u just have to apply your techniques properly to the street situation like u have to change the techniques a bit
even if the technqiue may not always work in a street fight, you will be able to take loads of punches and give a hell of a smack to your opponent. so in this perspective i surely think that boxing is effective and I respect it
remember in late stages every blow or attack can be used effectifley. even if the guy just walks up to you and touches you with one hand he would be already on the floor.