To be totally honest right now, I am watching Raw because of...Sheamus.
I am so happy to see Kofi get his seemingly big push. I love watching Randy Orton work when he's doing well (like he is now), and I've always enjoyed seeing Jericho. But this Sheamus thing makes me curious.
This can end one of three ways:
First, he loses this sunday to John Cena at TLC. I would say that this is the expected path, however there are a few obstacles. It was mentioned on Raw this week that Cena would make Sheamus' career a "footnote" in the history of the WWE. And really, after the Kozlovs and the Snitskys and the Knoxs, do you (Mr. Big Shot Creative Director) really want to cripple one man's career (a now totally creatively useless Sheamus), end another man's career (a "retired in as much as that word really means in Pro Wrestling" retired Jaime Noble's), and waste months of airtime on Raw and ECW to essentially give John Cena something to do in December? The only possible point to this I could see is continuing the angle of the John Cena/WWE Title conspiracy (which could end up being really good).
Second, he defeats John Cena at TLC, but doesn't hold the title for very long. While current WWE title reigns are notoriously short anyway, if Sheamus manages to win on Sunday expect it to be a very short reign. How short? Well, let's say it wouldn't be surprising to see a title change on the main event of Raw the following evening. If WWE is serious about Sheamus and Cena being the next great feud, this is the likely outcome. This will probably end with Sheamus falling off the map into the mid-card by summer (or even as far as Smackdown!). He may even get to hold the title until the Royal Rumble!
Finally, there is the possibility that Triple H thinks that highly of his spotting skills in the gym, or that he's sleeping with one of Stephanie's ugly college friends, or whatever. The point is that Sheamus leaves Sunday the champ, and resoundingly puts Cena in his place. He then goes on a Goldberg-esque "get out of the way or die" reign, destroying all who dare challenge his title, until one day we tune in live to Raw only to find Sheamus, standing upon the smoldering ruins of Titan Towers. Actually, he smacks around Cena until the Rumble, and probably lose the belt in the buildup to Wrestlemania so that some sort of crazy face on face championship match can main event in Arizona (alá Rock vs Austin WM17). Either way, even with the entire locker room behind him, there is no way creative leaves him with the belt until summer. He gets some huge (for WWE in this day and age) push to the top, floats there for a little while, and start to lose momentum and sinks to the bottom, along with the Kozlovs, etc.
I believe there is hope in Sheamus. I think the pale white is the better choice over what would be a totally obvious fake tan (ewwwww Zack Ryder). He needs some room to flesh out his persona beyond "Sheamus mad!", but I can be patient with that too if there is sign of improvement. I like what he means in a way: the direct injection of something, ANYTHING new to the top of the card. Even if it's not him that you like, if he can stick it means many others may get there own chance to jump into the fire. I think there may be some significance to him in the future, though whether that is by wowing the audience by actually changing the main event players or by treading dangerously close to "fingerpoke of doom" territory on PPV remains to be seen.