When Jay won the Night of Champions, I was coming off an 8 year layaway from the sport. I saw his physique and immediately saw him as the next Mr. O. After his second place showings, I saw his drive increase dramatically. No matter the change in judging standards, public views of steroid usage, or the traditional invincibility of reigning mr. o's, his perseverance has stamped his name in bodybuilding history as one of the greatest. However, after seeing some of the other competitors this weekend....how long will he hold up? His waist is bigger, his lines are getting smaller, and his strengths are disappearing. I think the guy's great, but with physique's as big as and aesthetic as dexter's or even vic's, how long can he hold out? 
Good thoughts here. BUT, I think two factors are MORE important here than any weakness on Jays part.
1. With last nights win , it sends a clear signal that the Mr Olympia will be the best overall PHYSIQUE on stage that day.When you consider all the aspects of size, hardness, shape,cuts, etc, Jay did have the best overall package.
While I am not a size only rules kind of fan, I do think it is one of the key componets overall. At any rate last night shows that a better physique can and will win the Olympia, and yes, size will always be important in winning it.
2. By looking at the overall physique as the winner, it does open the door for other top guys to have a legit shot at the title. You are 100% correct that a lot of guys like Dexter, Heath and Freeman look awesome and could challenge Jay next year. This makes this interesting and adds a lot of excitement for us fans.
With all due respect to big Ronnie, the man is now , what, 42, and even he is human.