In a few words -- "That really sucked."
Jones has met a who's who of legendary fighters in his life ... but told us he backed out of a dinner with The Greatest cause he was afraid to see one of his heroes in such a bad way.
Ali battled Parkinson's for years and one of his friends advised him not to meet with his hero because Ali was a shell of his former self and "it won't be everything that you thought it would."
"I backed out on that opportunity. But I regret that BIG TIME."