For the most part, yes, with a few major caveats.
Impact's been fairly solid for the past year or so. I enjoy the pacing and presentation of the show, the greater emphasis on midcard and undercard talent, and the attention given to alternate divisions in comparison to the WWE. While the X-division is currently a shadow of it's former self, on average I still care a lot more about TNA's X, Tag and Knockouts divisions than the WWE's equivalents. In addition, the commentary has been steadily improving, and TNA's humor segments actually make me laugh (I haven't laughed at WWE programming in nearly a decade. At least not in a good way).
Also, TNA has done a good job lately of pushing original talent who have paid there dues, such as Hernandez, Beer Money, AJ, CHRIS Daniels, Joe, EY, etc, (which I believe is a much more sensible strategy than pushing rookies and hoping for a 'golden goose', like Goldberg or Lesnar). And in the past year or so, the Original's have really come into there own, finding there own identities and niche's. Which is a major improvement, because in the past TNA had real problems creating and marketing characters. While there's still work to do in that area, just about everyone has a personality or a gimmick or something that sets them apart, and most of these seem to be fairly natural extensions of the wrestlers personalities (which, IMO, is a good thing).
Finally, in terms of wrestler status/the card, so far TNA has managed to maintain the illusion or feeling that 'anything can happen'; that on any given night a wrestlers status could be elevated and that anyone can beat anyone. This is partly due to the current main event consisting mostly of old guys on the verge of retirement (Sting, Booker, Steiner, Nash, etc) with only a few obvious successors in place (AJ, Joe, Hernandez, Morgan), and partly due to the obvious talent of the midcard and TNA management's apparent willingness to elevate them. Whether it's illusion or reality remains to be seen, but overall I believe that TNA is a lot more likely to take risks with booking and pushes, and while this may not always pay off, it certainly keeps things interesting.
Now for the bad:
The main problem right now is TNA's complete inability to promote and execute a PPV that is worth the purchase price. PPV's are treated like long Impacts, with overbooked matches and little to no storyline resolution. PPV gimmick matches are usually notoriously awful and it seems that the talent are often left working around the matches gimmick, rather than with it.
Also, match finishes (both on PPV and on Impact) are often overbooked and stupid, failing to elevate the talent involved and failing to satisfy the audience. Matches themselves seem to be poorly planned: some matches that should go to ppv are aired on Impact without any advertising, while some PPV matches seem like standard TV stuff. And while TNA has done a great job of promoting younger talent, they seem unwilling to push them the final stretch. It seems that every time a talent gets close to that glass ceiling, they move a step backward. Which is probably best conveyed by the shortage of 'clean' wins by TNA talent over MEM and established stars (for example, I just watched AJ fail to pin Kurt going into the biggest PPV of the year, and for no conceivable reason).
Finally, while I enjoy unpredictability in wrestling, TNA has taken it a bit too far, often springing surprises that make absolutely no sense. For example, Joe's heel turn to join the MEM, or Hernandez cashing in his FoF case to compete in a 5 way match. It's hard to surprise wrestling fans nowadays, but that doesen't excuse nonsensical writing.
Most of these issues involve Creative, and while the overall creative direction of TNA has improved recently, it's still something that needs a lot of work. I hope it will get better, but I gave up on expecting a perfect wrestling show years ago. Other than that, I think TNA needs to do more live television outside of Orlando and drastically needs to change the 'Impact Zone' around, but I realize these may be budget issues. Overall, Impact remains a good watch, and I still think that TNA has the superior in-ring product. But if they ever really want to compete with the WWE, they are going to have to start delivering on ppv's, avoiding nonsensical booking as much as possible, and putting more effort into attracting new viewers.
