This question seems to get asked a lot.
It's pretty clear that Morphy was brilliant, and exceptionally naturally talented (indeed, I think Fischer said that he was the most naturally talented player of all time). It's also pretty clear that understanding of and research on opening theory since Morphy's time has advanced a long way, so that would count against him.
I think the general consensus is that were he given a few months to study opening theory, and recent games, he'd stand a good chance against the best in the world. Whether or not he could be bothered is another matter (he didn't seem too bothered by the game even when he was playing it.)
Anyway, if we, or a future generation did somehow manage to time-port Morphy to 2008, I doubt he'd be content with playing chess - I don't know about you, but there're a lot more things I'd want to find out about.
Hey!
Paul Morphy is known as one of the greatest chess players in history.
However many people say that he would not have any chance against the modern brilliances of chess.
Nevetheless, GM Fischer does not agree with this at all, and he has said that no one could beat Morphy, even today.
So... What do you think?
Moon....;)