Lynch

First off, you really can't consider the Raw belt the old WCW title, because it's nothing more than the belt itself, once it's deemed a title elsewhere, that's what it is, history and legacy are not damaged, they stay the same, it just happens to be the same actually physical belt.

That said, I'll get back to the question: To me, Raw has the two more valuable belts, IC and World.

IC: From Orton to Benjamin, the IC title has done nothing but rise in value the past 18 months, matches have been fantastic, and all from credible challengers. No longer is it hotshotted between the likes of A-train and The Godfather, which sent it's value down the toilet, but it's stock has risen considerably in the last 18 mos. It's counterpart, the US title, has no lineage to fall back on, no great WWE feuds over it, and apparently, no one cares about it. The WCW history of it doesn't count simply because it has the same name, and it really wasn't a great belt in the dying years of WCW. The Cruiserweight belt if virtually pointless, and we all know both tag belts are junk. The IC title is head and shoulders above all of Smackdowns titles including:

WWE World: I'll give it up, JBL cuts a great promo, has a killer looking finisher, and gets great heel heat, that's all I'll give up for him. Now some may say, well, that's about the same as Ric Flair. True enough, Flair was pretty routine in the ring, but that routine pulled us into every match, Flair MADE superstars. Want some talentless, good looking musclehead to get over, feud him with Flair, a green up and comer, Flair, his name remembered, Flair. JBL will never have 16 World title reigns, be top guy for 25 years, or have 5 star matches. But he is doing the job he was given. His problem, is he's been given the position of Ric Flair, without the credibility. He's Bradshaw, a primarily tag wrestler, who was thrust into his 'Million Dollar Man' gimmick, then hastily given the world belt, before the act really got over. Had he been given the gimmick, then the belt say post WM21, then maybe it'd be a different story. If Guerrero had been champ all this time, it may be the most valuable, but as of now, the WWE world is #3, to me, at the moment.

World Title: Ah the HHH belt. Bitch all you want, but he's a great heel, promo's, presence and workrate, he knows what to do. He's not pre-injury HHH but he's still up there. HHH opened the year with the tail end of his feud with HBK, then did the right thing and put over Benoit in a great match at WM, Benoit went on to get clean wins at following PPV's and Raw, including an incredibly rare tap out by Michaels, until losing it to Orton this fall, who then lost it to HHH a month later. Benoit, and Orton, along with Edge have currently all stayed in the World title picture, and Benoit is finally taken as serious main eventer, maybe not to the degree we'd all like, but he's on the map for once. He's also got HHH's number, and Trips has not yet gotten a revenge win on him, which helps. He elevated Benoit, Benoit brought some strength to the belt in his half year reign, with solid feuds and matches, and like I said, did not give it up to the former champ, as per the status quo around HHH. Though it is currently vacated, there is still more interest around this title then Smackdowns. So I think that Raw easily has more valuable titles.

I really overthought and presented my reasons badly, but anyways, RAW. Har har.

Lynch