Honestly I've never liked the idea of weight cutting and then re hydrating to remake your original weight. The way it is now, if you legitimately weigh 205 lbs then you're at a disadvantage because people can cut and spend the next day making up that weight, now you're fighting a bigger, stronger fighter.
I understand that a little leeway time is needed because every fighter isn't going to neatly weigh 170, 185, 205, etc but I think they give too much time at the moment. You have people like Jones who cut to 205 and then weighs so much more on fight day. Instead of having a system where everybody is gaming it, why not just have it that you need to be a legitimate 205 lb'r, not a 230 lb'r who is young so they can cut weight easily.