He's not fighting currently because he was suspended by USADA for failing to keep them informed about his travels, disrupting their testing protocol. He didn't fight for a number of years because he received a ridiculously long suspension from the NSAC for a Marijuana metabolite, so minimal that it wouldn't have been flagged under USADA, but nevertheless, the NSAC decided to send a message that no one but the commission itself really paid attention to. The UFC and Nick got together a few months back to discuss the whole USADA thing, with the goal of having Nick fight at least once this year.
I just watched that Condit fight, and it was close from a judges standpoint. Condit's entire game plan was to win a decision by constantly moving, literally running at times, and outstriking Nick with leg kicks and various other insignificant strikes. He fought smart, but when it's all said and done, I doubt he'll look back on that performance as something to be proud of. He was supposed to be the "The Natural Born Killer", which is why we were initially so stoked for that matchup to begin with.