I love ECW. In order to organize my thoughts on the produce, I'll be writing in point form. Try to keep up.
-ECW's long term champion Christian continues to establsih top notch credibility and shows why the ECW Championship is the best midcard championship in the WWE. Punk, Morrison, Lashley, and Matt Hardy gained a lot from the belt before moving to higher positions on other brands (forget where Hardy is now, you know he was red hot coming off of his ECW reign), and Christian will no doubt follow suit after the way he's been booked. This was a much better way to reintroduce him to WWE than just throwing him into the thick of things on a bigger, more cluttered brand.
-The title scene, and the feuds, are well defined and are elevating everyone involved. The four person ECW title scene is producing a lot of interesting matches and the Regal-Tiffany saga is adding a story element to the proceedings that Raw's been sorely lacking these days is the icing on the cake. Regal is more over than he's been in years and Ryder, Yoshi, Kozlov, and Zeke have looked good by association. Shelton-Sheamus has done something good as Sheamus has been called up to the big leagues and Shelton looks better than he probably ever has. Couple that with vets like Dreamer, Goldust, and Hurricane getting a chance to help young guys in a way they couldn't on other shows and you have a recipe for success.
-Clocking in at just an hour, ECW makes pretty good use of most of it's time and never really gets the chance to lag like Raw does a lot these days. ECW has just enough going on to make the hour fly by. As far as "efficiency" goes, it's easily the best show in the WWE.
-They have a pretty neat main event on a weekly basis. Given that their PPV time is normally cut short and they have to blow off a lot of things on free television, we benefit. ECW is home to not only some of the most efficient story telling in the WWE at the moment, but also some of the most consistently good wrestling.
-It's very good but flys just under the radar so Vince won't feel the need to stick his nose in and retool it for rating's purposes or some shit like that. Me likely.
I can dig it.