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Holly Holm was a massive underdog heading into Saturday night but that didn't stop the former boxing champion from slamming home a left footed high kick that put Ronda Rousey down and out as she became the new UFC women's bantamweight champion.

Holm not only beat Rousey, but put on a virtually flawless performance over six-minutes to capture the title and become only the second ever women's champion at 135-pounds in UFC history.

Also on the card, Joanna Jedrzejczyk was an even bigger favorite to win her fight, but she had to battle to get through Valerie Letourneau over five rounds to defend her strawweight title for the second consecutive time.

Mark Hunt got a bit of revenge against Antonio 'Bigfoot' Silva as he knocked out the Brazilian in a rematch of arguably the greatest heavyweight fight of all time.

But we already know the results from Australia so it's time to dig a little deeper to see what passed and what failed on Saturday night. This is Making the Grade for UFC 193: Rousey vs. Holm.

PASSES

Holly-Lujah!

The cover of the Albuquerque Journal had it right on Sunday morning with that headline celebrating Holly Holm's improbable victory over Ronda Rousey to cap off UFC 193 in front of 56,000 fans in Australia.

Holm pulled off a career-defining win as she not only finished Rousey in the second round, but also beat her up throughout the first five minutes as she executed the picture perfect game plan to stave off the Olympic bronze medalist's aggressive attacks and countered with precise strikes over and over again.

Holm stayed calm and composed all week long as the scrutiny about her chances of winning got more and more intense with each passing day. She even stood her ground in the face of Rousey's attempt at intimidation at the UFC 193 weigh-ins when the now former champion came charging at her after stepping off the scale and Holm didn't budge an inch.

Holm showed grace under fire and absolute class in victory by immediately going over to check on Rousey following the knockout loss.

Holm now stands tall as the best women's fighter in the world at 135-pounds and she deserves every, single accolade she's receiving today after putting Rousey out at just 59 seconds into the second round.

A Championship Team

Does anyone else remember a couple of years ago when Greg Jackson was labeled 'a sport killer' after Jon Jones opted not to fight Chael Sonnen on short notice when his original opponent Dan Henderson got injured and UFC 151 ultimately had to be cancelled?

My how things have changed.

Jackson is still the same guy he's always been -- classy in victory and defeat and one of the best coaches in all of MMA -- while now producing yet another UFC champion for his stable of fighters. Jackson helped Georges St-Pierre reach the top of the sport during his run as the best welterweight fighter in history. He developed Jon Jones from being an incredible prospect to possibly the greatest pound-for-pound fighter of all time. Jackson put together the strategy to help Carlos Condit defeat Nick Diaz to win the interim UFC welterweight title.

Jackson along with his good friend and fellow gym owner Mike Winkeljohn then did the impossible on Saturday by crafting the perfect game plan to dismantle and defeat Ronda Rousey where 11 previous opponents had failed.

Jackson and Winkeljohn along with all of their coaches in New Mexico, including Izzy Martinez and Brandon Gibson, have managed to create the gold standard for training and preparation in MMA and it showed once again on Saturday night as they added yet another UFC champion to the roster.

Aussie, Aussie, Aussie!

The UFC will typically pack a card with local talent any time they go to an international market and Australia was no exception with a ton of fighters from the country competing at UFC 193 on Saturday night.

Not every Australian who fought at UFC 193 was victorious, but the ones who were seemed to really soak in the moment with more than 56,000 fans celebrating their wins in only the second stadium show for the promotion.

Kyle Noke -- one of Australia's original mixed martial artists -- got a huge ovation as he walked to the Octagon and then planted a foot directly in Peter Sobotta's midsection to get a rousing knockout win. Twenty-one-year-old Melbourne native Jake Matthews came back from a rough start to put a brutal beating on Akbarh Arreola in his fight to cap off the UFC 193 prelims.

Even the New Zealanders got in on the act with both Mark Hunt and Robert Whittaker picking up big wins in high profile bouts on Saturday. This was a great moment for Australian MMA as the country celebrated their own in the biggest card to ever take place on home soil.

FAILS

Rosholt Gonna Rosholt

MELBOURNE, AUSTRALIA - NOVEMBER 15: Jared Rosholt of the United States pins down Stefan Struve of the Netherlands in their heavyweight bout during the UFC 193 event at Etihad Stadium on November 15, 2015 in Melbourne, Australia. (Photo by Quinn Rooney/Getty Images) Quinn Rooney Getty Images AsiaPac

Jake Rosholt may be one of the best up-and-coming prospects in the heavyweight division, but unfortunately there won't be many people paying to see him fight considering the kinds of performances he typically puts on when he gets a win.

Saturday night was another case in point as Rosholt used a wrestling heavy game plan to take down Stefan Struve over and over and over again for three rounds.

Rosholt is a former All-American wrestler so it stands to reason he would use that weapon to beat most of his opponents, but unfortunately the other areas of his game haven't developed enough for him to actually do much damage to his opponents once he gets them to the ground.

Now Struve certainly has to take part of this ridicule considering he couldn't stop Rosholt from getting him down much less do much of anything to get back up again, but the fight was supposed to set the tone for the rest of the UFC 193 main card and instead served as sleep aid for anyone looking to go to bed by 10:30 p.m. ET.

Rosholt is now 6-1 in his UFC career but with five victories coming by way of decision in a division where finishes are much more normal than not, he's staring at a lot more undercard action in the future unless he can prove that he's ready to start finishing opponents or at the very least make fights exciting enough to where people want to watch rather than change the channel.

EPIC FAIL

Celebrating Rousey's Downfall

Everybody loves a winner but it appears a whole lot of people enjoy celebrating their downfall even more.

As soon as Ronda Rousey tumbled to the ground, knocked unconscious courtesy of a head kick from Holly Holm, Twitter erupted with a ton of messages slamming the now former champion for being too cocky, being too outspoken and not showing respect to Holm before the fight.

Now some (or maybe all) of those things might be correct, but Rousey's pre-fight demeanor, interviews and headlines are part of what made her can't-miss TV. It wasn't just the 14-second fights or devastating finishes because those have happened before and fighters didn't automatically rocket to superstar status. Anderson Silva put on some of the most vicious knockouts in MMA history but it wasn't until Vitor Belfort and Chael Sonnen came along that he really took the next step towards becoming a household name.

Humility is an admirable quality for all athletes but unfortunately in combat sports it rarely sells pay-per-views that cost anywhere from $50 to $100 to buy. Floyd Mayweather didn't become a cash cow until he developed his 'Money Mayweather' persona, where he began touting his fortune and how he was the best fighter in the world.

Part of Rousey's success came from the show she put on before her fights. That's how promotion works. Call it cocky. Call it arrogance. But don't forget to call it money in the bank because humility rarely sells.