I think Holly is in quite a predictament himself. Even if he really wants to hold back, he might be able, given the tough-guy/locker room enforcer reputation he has built for himself. Can he really afford to go softer on this rookie and risk people thinking that he's afraid? Assuming that he really is worried that is.
I hope that Puder will be professional and try have a clean match with Holly, but I don't he really could given how little wrestling experience he has. Didn't Ken Shamrock cause quite a few injuries when he first started with WWE (I don't know if all, if any, of them were true)? I don't know if Puder can really hold back the whole time throughout an entire 10-15 minute match with Holly. During the heat of a match, one stiff punch from Holly could trigger all kinds of survival reaction from Puder, and that would not be good - especially for Holly.
Given that it is the self-proclaimed tough guy Holly who is involved in the situation, I find the whole thing kinda funny. Still, I hope that no one walks away from this match with more than hurt feelings.