The World title has been virtually meaningless since it was drafted to Smackdown in 2005 and the birth of super Cena and the WWE title.
The main event roster is pretty thin at the moment because of the WWE's failure to build new credible stars or quite frankly dropping the ball with some of the up and coming stars (cough Miz cough).
No matter how you dress it up it makes absolutely no sense to have 2 world titles when the brand extension is virtually non existent. When Raw and Smackdown were treated as 2 seperate entities it would have been a massive deal to have the Smackdown champion appear on Raw, now it happens every week.
The WHC always seems to be an afterthought therefore it has very little prestige compared to the WWE title (Please can we finally get rid of that stupid belt Cena brought in)
In conclusion unless the brand extension returns there should be a title unification match somewhere down the road and we can have just one main champion.
Additionally since the brand extension barely exists we don't need a Smackdown and Raw GM so lets go old school and have a commissioner again, my pick would be Paul Heyman (yes I'm a Paul Heyman guy).