Evan Bourne is completely under-rated, that is what I think.
However, I don't think it is wise for him to get involved in a feud with Sheamus because there is no way that he is going to come out on top whilst looking believable. I know that he has managed to beat Sheamus in the past but there is a difference here, Bourne is only just back from injury and the first time we have seen him in the ring for a couple of weeks, he is getting physically abused by Sheamus. I mean, if they wanted to build this up to a feud between he and Sheamus, then they are certainly going the wrong way about it. What I think is more likely is that they are probably building to having a feud between Sheamus and John Morrison (or someone of that ilk).
I like Evan Bourne and think that he is deserving of being in a title feud but the WWE seems to have no confidence in him whatsoever. Putting him in a feud with Sheamus would only make both guys looks really good, especially if Bourne can manage to pull out a few surprise victories. However, when you look at the way he was treated on Raw and how easily Sheamus went over him, you really cannot say that he is getting any sort of push. He was just enhancement talent that made Sheamus look good heading into WrestleMania and that's all.