Ali would still be at the top. True the Frazier fights defined his greatness. However he still beat 2 unbeatables Sonny Liston and George Foreman. He was one of a kind. There will never be another Ali.
Take out Frazier and he still beat Foreman, Liston, Patterson and Norton.
Still no. 1
I mainly consider him the greatest heavyweight fighter of all time because of the incredible skills he had in his prime (1964/65/66/67).