Obviously with 20 years worth of matches there's a hell of a library to choose from even dating back to the early days with the Perfect / Flair - Loser Leaves Town match which today looking back is a match from a completely different era but holds up if you have an affection for that style of wrestling.
Then as the WWF started to change later in 1993 and into 1994 there were stand out matches between Marty Jannetty and Shawn Michaels, Bret Hart and The 1-2-3 Kid the later of the 2 still holds up on a list of my favourite Bret Hart matches ever.
Other matches off the top of my head from the earlier years would be Owen Hart and Davey Boy Smith in the European Title Tournament finals in from Germany in 1997 which was a showcase in a completely different style from anything that was on WWF television at the time, then Owen and Davey Boy also losing the tag team title to Austin and HBK later in 1997. That year was pretty great all round Triple H and Cactus Jack having a fantastic brawl at MSG with the famous WWF debut of Cactus in the vignette with Mankind and Dude Love.
I think the crash and burn TV of the Attitude Era 98 and 99 specifically didn't lend itself to great matches (although Mick Foley and Terry Funk half killing each other in a no.1 contenders match was a particular highlight) but at the start of 2000 the crowds were still really hot and there was a really good 10 man tag with Triple H, X-Pac, Benoit, Malenko and Saturn vs. Cactus Jack, The Rock, Rikishi and Too Cool the building that night was absolutely off the hook and when you didn't think it could get any more mental Kane returned to a hell of a pop.
As already mentioned earlier in the thread the match where Triple H tore his quad in 01 where he and Austin lost the tag titles to Benoit and Jericho was high on emotion with great storytelling and 4 guys who were all on top of their game. Austin and Benoit had some great matches on TV around that time to specifically one in Canada but I'm pretty sure that was on Smackdown .
There was also a period in 2004 where there seemed to be hot matches quite often usually with Chris Benoit postioned in them a world title defense against Shawn Michaels springs to mind where Michaels did the Terry Funk moonsault to the outside spot, also another great multi-man tag with Benoit, Michaels, Benjamin and Foley against Evolution.
Wouldn't be able to speak about Raw with out mentioning John Cena though and love him or hate him he's had some really good matches over the years, is he Ric Flair or Ricky Steamboat? No, is he supposed to be? No! The match with Punk last week was really good is it my favorite Raw match ever? No but by the same token I don't believe matches can be that good without both wrestlers working hard to make a match that good. There are exceptions to the rule a believe but Cena has been in too many good matches over the years to says he's not at least a competent hand in the ring.
My favourite Raw match ever does involve Cena and I will say this when it comes to Cena if I was in a crowd I would love getting involved in the Cena sucks chant, but at the same time appreciate the guy because he can bust his arse for this business that we all supposedly love, and his match with HBK in 2007 in England where they went 40+ minutes was a masterclass in storytelling, in the art of a modern day WWE main event style match, it had highs and low, excitement and drama and in the end is the reason why I still watch Raw every week because I believe when the WWE does wrestling right there isn't anyone many people in the past 50 years that have done it better.