How realistic a replay looks largely depends on how the players played the mod. But my pick is borba3, a mod I made a while back. The goal is to push/throw your opponent out of the ring. There is a very high gravity, very high dismember threshold, and no grabs - the elongated hands are there so you can hook your opponent's limbs to manipulate his body.
The realism goes away when you say no grabbing. But, this mod itself sounds fun and realistic besides no grab. I'd like to play this some time. (Plus elongated hands .-.)