Let's start with the 2nd question. Gord would never write this kind of song. At least not for such an atypical Hollywood film/sequel. The project would have to have special meaning for GL to take part.
...and yes,of course,I know the song. It's singer Robert Tepper's only top 40 (#22) hit from early 1986. (I was a Senior in high school!

-) Mr. Tepper was one of many New Jersey/New York based acts that emerged around the time of Bruce Springsteen's,"Born In The U.S.A." album. The trend lasted mostly for 2 or 3 years with Bon Jovi being the overall NJ champs!
I don't know how much your into these films but if you want most of the songs from all of the first 4,look for "Rocky" (Songs from the films) CD or tape. (That sub-title isn't accurate but I don't have my copy with me.)
It came out around 1990 which is about when Rocky V emerged.

And then of course submerged!

Been me,later!
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Borderstone,gonna post some lines tonight!
[This message has been edited by Borderstone (edited January 26, 2004).]