This will only include active competitors, no injured guys.
Raw
1. Chris Jericho
Could it be ANYONE else? One of the best entertainers in the business, coming off one of the best feuds of the year with the World Heavyweight Championship. You can't buy that kind of Awesomeness.
2. Shawn Michaels
He's no world champion but still has the work-rate of guys half his age. Shawn Michaels, simply put, is and has for a long, long time been one of WWE's best.
3. Santino Marella
He's never gonna win any Lou Thesz awards for ring excellence, but he's so damn entertaining and has actually brought something to the Intercontinental Championship not seen since it was held by one Johnny Nitro.
4. Batista
I'll give credit where credit is due - Batista is not half the wrestler he was back in 2005, but he can still go a good match when he wants to. And besides, he's the number 1 contender.
5. Ted DiBiase
I'd include both members of Team Priceless, but Ted Jr. is the MVP of the team. This guy has future star written all over him. He gets too little in-ring and mic time though, not likin' that.
Honorable Mentions: CM Punk, Kofi Kingston, Cody Rhodes, Jamie Noble
SmackDown
1. Jeff Hardy
I think you can safely say that Jeff Hardy is the most likely World Champion in WWE right now. Over like hell, one of the premiere wrestlers in WWE and basically, he just came off a MOTY candidate at No Mercy. Nobody hotter on SmackDown right now.
2. The Brian Kendrick
I've said it once, and I'll say it many, many more times before I sleep, THE Brian Kendrick has THE "It" factor. Slick in-ring skills, a bad attitude and unbelievable heel charisma. Future World Champion if the world is a fair and righteous place. Which of course it isn't. But I'll enjoy every minute of his work as long as it lasts. He'd be first, but he's been on a terrible losing streak :/
3. Triple H
Triple H's WWE Championship reign has, until about now, been a bore. Nothing new under the sun. However, it's slowly becoming on par with his best work now - if he can keep this up he'll be SmackDown's top guy for me once more. One of the best workers in the business, absolutely no doubt, but only when he wants to.
4. Shelton Benjamin
Shelton Benjamin is one hell of a wrestler. He's not ever gonna be over with the fans, but his workrate makes up for that. Best US Champion since MVP...not that it's really been so long since MVP was US Champion, but Matt Hardy made it seem like forever.
5. Carlito
I like Carlito. Always have. I'm glad he's seemingly overcome his bruised ego and decided to start entertaining us again. He's a charismatic badass who can work well both as a face and a heel and is very good at drawing reactions. One of my top tier reasons to watch SmackDown, no doubt about it.
Honorable Mentions: The Undertaker, Vladimir Kozlov, MVP
ECW
1. John Morrison
John Morrison is one of the best guys in the company today. Great tag team wrestler, fantastic singles wrestler. Charisma, the look, you name it. John Morrison has never disappointed me. It's time to move him from ECW, tweak his gimmick so he'll actually get the reaction he so deserves and start up that singles run again. I like Miz & Morrison, but it's not been the same since they lost the Championships. JoMo for freakin' life.
2. Matt Hardy
Matt Hardy has defied the odds and proven himself to be a good ECW Champion so far. He's more reliable than his brother, but not the better worker, in my opinion. However, when put together with the proper guys Matt Hardy is the bomb. Definitely one of the top faces of the company, and a good ECW Champion.
3. Evan Bourne
Evan Bourne is a freakin' beast when it comes to wrestling. Jesus, half his moves I've never even seen before. ECW's top wrestler. He can work high risk spots, groundwork, taking a beating from his opponent. With the proper push he may well become ECW's top guy very soon.
4. The Miz
I, at one point, hated The Miz. I mean, who the hell couldn't hate a loudmouth reality TV reject who couldn't wrestle? I was just waiting for them to release him in the fall of 2006. However, nobody has improved like he has for an age. The Miz has become an extremely sound wrestler over time, and it's been a long while since I saw him wrestle a bad match. Could be ECW's top heel.
5. Jack Swagger
I like this guy SWAGGGAAAAAAAH. He's a pretty damn good wrestler. But they need to showcase more facets of his character. He could be big with the proper push and proper gimmick, but I don't think this All-American American gimmick is gonna go over well. Either way, he's the Talent Initiative's best heel so far.
Honorable Mentions: Finlay, Chavo Guerrero, Mark Henry