Boxing became a modern Olympic sport in 1904. The first televised UFC event was in 1993. Their origins can't be argued, but their current popularity certainly can be.
Fans will argue each sport's entertainment value, equity, relevancy and history until the cows come home. It's impossible to say which side is correct in almost every sense.
But now at least people have the videogames to judge. UFC 2009 Undisputed was released on May 15 and Fight Night Round 4 on June 25. Let's get ready to rumble.