He's being buried on RAW, and it's such a shame. I have NO idea what they're doing with him. He should be feuding with Cena, not R-Truth, who totally sucks. Del Rio is a legitimate top heel in the company and they have him filling a worthless mid-card slot. I honestly couldn't even tell you who he's feuding with...Big Show? What? When was the last time Big Show was relevant...6 years ago?
I actually think what they are doing is good for Del Rio. My guess is Truth is facing Cena as they want to keep the title on Cena. By having him go against Truth and not Del Rio it saves Del Rio losing yet another title match. Where as going over big show, while being boring keeps him looking strong until he faces off with Cena and by that time Cena will have held the title long enough so as it is believable that Del Rio may win; I dont think anyone is expecting Truth to take the title (though I personally want him too).
Anyway, is Del Rio there yet? Not quite. Crowd reactions seem to vary for him and I think he probably needs to be showcased in the way the Miz has been the past year on Raw to get to THAT level.