I've said this before in other posts and so have others. There is no new Monday Night War going on. Hulk Hogan made a lot of bragadocious remarks about TNA taking over Monday nights, teaching Vince McMahon everything he knows and openly declaring "war" on the WWE. For all the big talk, you cannot seriously have a ratings war between two shows when one show's audience is roughly 5 times that of the other. Raw's average audience in 2010 has been somewhere around 5.3-5.4 million whereas the average audience of iMPACT! has been somewhere around 1.1-1.2 million overall.
If TNA wants to build a bigger audience for itself, then it's not going to happen going head to head against WWE Raw. Fans can argue and debate as to who has the better roster, which is the better company, who puts on the best matches, etc. until their tongues fall out. It's all conjecture and personal opinion and it's just plain fun to discuss. However, ratings have always been a discernable, unquestioned method of determining success of a product. Right now, iMPACT! is getting killed going head to head against Raw and I've heard no explanation from anyone as to why that's likely to change.
For the three hour edition of iMPACT! on January 4th, TNA began at 8 pm, a full hour in which they had no competition from the WWE. The first hour of that broadcast pulled a 1.7 and while the next two hours of the show did lose viewers head to head against the WWE, the numbers generated by that first hour unopposed by the WWE helped bring up the numbers of the show overall to the biggest audience TNA iMPACT! has ever had. Now, Hulk Hogan's presence on the show was hyped and advertised for months and there's no doubt that helped out quite a bit. If iMPACT! does move to an 8-10 pm timeslot on a permanent basis, then they'll have a better chance of increasing their ratings at least back up to their normal levels because they'll have one full hour in which they're not opposed by Raw. Even if they do lose viewers in the 9-10 pm timeslot against Raw, there's still the potential that first hour could pull up the numbers for the show overall.
Frankly, I feel it was a stupid and downright arrogant decision on TNA's part to try and go head to head against the WWE despite having only a fraction of it's viewers. TNA NEEDS to take that big step back in order to regroup, maybe come up with a new strategy. Or, better yet, maybe actually wait for several years and build up their product before trying to take on the WWE.