Visible crew/equipment: During the final fight, a steady cam operator with a white shirt and black straps around his body is seen during several wide angles. This is not a TV camera, it is a film crewmember. The Director even admits to it in the audio commentary on the DVD.
Revealing mistake: Rocky says "cut my eye" during the fight scene, if you watch closly you can see the man actually squeeze a tube full of red stuff inches away from his eye. It's really quite funny... (01:49:20)
Answer: It's pretty inaccurate. Real life fighters would tire out long before the 15th round after throwing so many haymakers (knock out punches). The amount of punches that connect clean without a knock out is also unrealistic. Creed doesn't seem to ever miss with his punches. Even an inexperienced boxer should be able to see at least a few punches coming and move to avoid them, Rocky seems to have no defense at all. The reaction to being punched is exaggerated for dramatic effect (Creed being lifted off the ground due to the power of Rocky's body punches, Rocky's head being thrown back due to the power of Creed's jab). It is also likely, though this is debatable, that the fight would have been stopped prior to the 15th round as both fighters could hardly stand going into that round.
BaconIsMyBFF