A few years back, such as when Williams was feuding with AJ Styles and was X Division Champion, I think he showed that he had a lot of talent. He's great inside the ring and he demonstrated that he could cut a pretty decent promo when given the opportunity. While the X Division was still FAR from great, Williams did more for the X Division strap than anyone had in a very, very long time. More could have certainly been done with him.
Williams is someone that I think came along at the wrong time, unfortunately. Williams was already in his late 30s when he came to TNA and he was someone that the VAST majority of American fans were completely unfamiliar with. He was well known on the indy scene and had success on the indy circuit but the indies and the big leagues are altogether different. Every wrestler on the indy circuit has his own following proclaiming him to be the best there's ever been. Damn near everybody's a star on the indy circuit, at least that's how it sounds sometimes. Also, when Williams came to TNA, it was during a time in which homegrown, young and/or fresh talent in general was being used to put over the established veterans. Now that TNA has finally started putting more focus on the less established stars, it's probably too late for Williams. That's not to say that Williams can't be a very positive contribution, it's just highly unlikely. When it comes to wrestlers Williams' age, there's a truth that's almost universal: if you haven't made it by now, there's almost a guarantee that you're not going to make it. The only guys that I can think of off the top of my head that made it big when they were of similar age to Williams was Diamond Dallas Page and Nick Bockwinkel.