James has never had a measure of success over Superheavyweights. His major skills were on the mic, controlling a crowd, and selling well. We needn't worry about his ability to sell in this match, because he'll be in enough legitimate pain as it is.
Bam Bam Bigelow is the 3rd greatest Superheavyweight in pro wrestling history, behind only Vader and Andre. Bam Bam was an SHW who could move around the ring with shocking ease. He and Vader were among the first who showed the entire world what an agile big-man was capable of, with a Top Rope finishing maneuver, rolling scissors kicks, and a force + velocity that added up to devistation.
I expect Bam Bam to go VERY far in this tournament, and Jesse James is absolutely no remote threat.