Ahhh, good ole Pancrase. Pre-cursor to the UFC; they didn't allow closed fist strikes to the head, which struck me as odd back when I first watched- but I understand it was their way of making it more palateable. To the question- is Bas Rutten knightly? I think everyone has the ability to be so, but are they?
I've always seen him as a samurai type- honor, justice are things that matter to him. In the clip shown above, he's giving commentary on a fight between him and Jason Delucia (who I first saw fight in his debut at UFC 2, got stuck in an iron armbar from Royce Gracie that everyone thought had popped but was just badly bent) - and it looks like the ref might have it in for Bas. Of course, this was pre-instant replay so maybe the ref just mis-called. In any event, Bas decided to end the contest rather than draw it out for 'ring experience'. One could argue that it was hardly knightly to draw it out knowing as he did what the outcome would be.
Delucia is not an unskilled fighter- his record may not be stellar, but he's fought serious competition and won more than he lost; but he was outclassed in this instance and his opponent knew it. So I guess the question is- would it have been more knightly to give the other fighter some positive reinforcement by 'allowing him to last' a length of time, or just put him out of his misery early?