With the anticipated departure of Jerry Lawler, the WWE will have lost four colour commentators in less than two years (six if you include Adamle and Coach). One has to wonder/examine the possibility of Mr. McMahon donning the headset and doing the job himself. With guest hosts handling what many would consider the 'GM duties' on the program, and Mr. McMahon without any real enemy/nemesis (he certainly forgave Flair pretty quickly), it seems as though this would be an effortless transition.
PROS
He's Not Going Anywhere
Unlike those who have departed from the announce table in pursuit of "future endeavours", Mr. McMahon is a character that will be tied to the WWE for the rest of his natural life. Even if he were to take the position for a year until a suitable replacement was found, bringing/reintroducing his voice to the broadcast as an "analyst" would make him a viable substitute every time a commentator goes down (a situation that has become an epidemic).
He Has a (warped) Sense of Humour
Like Heenan and Lawler before him, I see Mr. McMahon as a character that would have no trouble taking shots at his colleagues, and making off colour remarks during boring or uninspired matches/moments. If Shawn Michaels can keep his storytelling impulses in check, Mr. McMahon could be an entertaining if not a refreshing voice for any brand.
What's Old is New
Over the past ten years Mr. McMahon has shared limelight with Hogan, Michaels, Triple H, The Rock, Stone Cold (amongst others) at numerous major PPV events. He's also enjoyed brief stints as the WWE and ECW champion. This isn't Vince McMahon circa 1996; this is Mr. McMahon the competitor. Speaking from this perspective he can put over ECW talent (having "competed" for the brand) and Triple H/Shawn Michaels (they definitely need the rub).
He Can Still Involve Himself in Storylines
This is of course what ALL fans want I'm sure; more Mr. McMahon stories. As Lawler and Bradshaw have demonstrated, being at the announce table does not limit one's involvement in storylines. Mr. McMahon seems to (physically) mix it up at least once or twice a year, making a role as ringside announcer a very practical vehicle/segue. Whether or not he plays the hero or villain in these unwritten stories will most likely be determined on a feud by feud basis.
CONS
He Has Annoying Tendencies
When looking at his past work, Royal Rumble 95 serves as my most memorable example.
Phrase of the night: “1… 2… HE GOT’EM!!NO!!”
Painful.
He May Intimidate His Colleagues
Yes he’s just a man, but he’s also your billionaire boss. Michael Cole has only recently staked out his independence as WWE’s finest. One has to wonder if Mr. McMahon’s physical presence would affect Cole’s performance.
Fans May Reject Him
I guess?