Who will be new champion? I'll give you a full list on who it should be.
1. The Undertaker - There are three legitimate reasons why Taker should be WWE champion:
A. His motion for the title doesn't have to be the World Heavyweight Title. With the star power on Smackdown and the abundance of heels on RAW, Taker is the best face to send to RAW to be champ. He was promised a long reign. Why not give him the title on the A show? I know it's better for editing to have Taker's appearances on a taped show, but they can pull it off. Besides, he's a former WWE champ and still in good shape, so it wouldn't be far-fetched.
B. The USA network told the WWE a few months ago to put more star power on RAW, guys like Stone Cold Steve Austin, John Cena and The Undertaker. Putting Taker on RAW would boost ratings for the show, seeing as how popular Taker has been over the years.
C. He's already feuded with Kennedy and Orton, but he still has guys like Umaga, Carlito, and of course, HHH himself. The Undertaker on RAW would bring a fresh set of feuds in, and re-visit feuds that worked. He's already beaten Mark Henry, Batista and The Great Khali. Why keep him facing them? Besides, when Edge returns, he can set his sight on Taker for Wrestlemania still, or take back the World Heavyweight Title. The possibilities are endless.
2. HHH - Maybe it is too soon, but I'd rather go with too soon than fresh off suspension. I would not put the belt on Kennedy or Umaga or anyone just off suspension because why reward them so soon after punishment for drugs? HHH wants the belt again so he's the logical choice to once again hold the belt. Plus, he already has a natural feud with McMahon, and one with Kennedy about to start up.
3. Edge - I'd bring him back sooner just for this. Edge becomes a three time WWE champion, and his fourth reign as the top guy. He already proved he was worthy of being WWE champion all through 2006. Why push him back to feuding with Batista, or possibly Mysterio? This is his kind of chance to be champion once again.
4. A tournament that goes into Survivor Series - Remember Survivor Series: Deadly Game? This was where The Rock won his first WWE title vs. Mankind after McMahon pulled off the title screw-job. Why not do it again? When a belt is vacated, what's wrong with a King of the Ring like tournament that lasts a few months for the vacant belt? Do you need to have a champion that quickly? Wouldn't Smackdown have been better to have a 20 man tournament that would last four weeks instead of a one and done Battle Royale just to fill a PPV slot? Ratings would definitely go up because people would tune in to see how the tournament progesses and see who will eventually win. There's a reason why the NFL is so popular.
5. Chris Jericho - Imagine this: Randy Orton waits in the ring at No Mercy, saying that since he was the #1 contender, he deserves the belt. Then, down walks Mr. Kennedy, saying that since he took out Cena, he deserves the belt. The Titan-tron goes nuts, and a voice says "I'm back." The lights go out, pyro goes off, out comes Jericho to a monster pop, saying that he will save us and the WWE title from "ass-clowns" like these, pointing to Orton and Kennedy. A triple threat match starts, won by Jericho making Orton tap out to the Liontamer\Walls of Jericho.
Like the WWE would EVER give the WWE title to a newly signed superstar, plus Vince thinks that Jericho was one of the worst WWE champions ever. Still, we can dream...