This is one match I've been waiting for, and it should be one hell of a doozy. For those of you that aren't aware, Flair and Inoki have met before in North Korea - which is probably as neutral a ground as any - and Inoki won. And to debunk the "But Echelon, Inoki was the guy that orchestrated the event" while that's true, WCW and NJPW both offered up talents to fuel the card. You had Americans, Mexicans, and Japanese.
http://www.cagematch.net/?id=1&nr=8232
And it's not like the Japanese swept the whole thing either. Inoki as a face, fought and defeated Flair as a heel in a neutral area as it should have been.
I don't look as region or city as having any sort of impact, as American fans [especially casuals who were fans of WCW and Flair's] would have watched the battle in North Korea as it was historic. Inoki's bout with Mohammed Ali also helped his star power in the States, as did dethroning Bob Backlund and winning the WWE championship. Plus he's got that nifty WWE HOF ring to show for his accomplishments.
Inoki's win/loss record against big International names is scary when put into context...
Against Andre - 111 wins/44 losses
Against Hogan - 33 wins/15 losses
Against Lou Thesz - 2 wins/0 losses
Agaisnt Bret Hart - 14 wins/0 losses
Against Sting - 1 win/0 losses
Against Vader - 22 wins/7 losses
Agaisnt Bob Backlund - 4 wins/12 losses
Agaisnt Harley Race - 13 wins/13 losses
Against Dusty Rhodes - 12 wins/5 losses
Against Roddy Piper - 14 wins/0 losses
Against Karl Gotch - 6 wins/2 losses
Against El Santo - 2 wins/0 losses
Flair as a heel won quite a few, but he also lost allot to big stars too...
Against Sting - 52 wins/127 losses
Against Roddy Piper - 65 wins/51 losses
Against Hogan - 11 wins/84 losses
Against Dusty Rhodes - 28 wins/49 losses
Against Randy Savage - 24 wins/91 losses
Against Ricky Steamboat - 24 wins/38 losses
Against Shawn Michaels - 8 wins/48 losses
Against Andre - 0 wins/8 losses
Against Bret Hart - 5 wins/48 losses
Against Harley Race - 13 wins/13 losses
Against Terry Funk - 16 wins/1 loss
This shows that Flair, being a natural heel, lost more big matches than Inoki, who was a natural face. And it's not like Inoki hasn't lost in Japan before, as Hogan beat him for the IWGP world title.
The stipulation works well for both men - it'll be the figure four vs the sleeper and octopus stretch. But in the end Inoki should win this match. He's beaten Flair before in a neutral setting, where neither men had a fan base, with both WCW and New Japan running a joint show.
Vote Inoki.