Rough, rough match. ECW is a hugely interesting ground to hold this on - Morales would easily take it in WWE, I feel, while Booker would have had it in WCW. ECW not only levels the playing field but throws in a kink with the extreme rules.
Booker has a good thing going being more modern - he's done hardcore, he can do it again and knows his way around it. Morales, meanwhile, as an old school veteran, might be more reluctant to take advantage of the extreme rules, and such and such.
It's rough to vote against a true legend like Morales, who is, as KB said, an unfortunately oft forgotten great, but I think Booker's modern experience, not to mention no lack of wrestling skill on his part, will tip the edge to him, however.