It was a triple threat, not a handicap. Ted and Cody had split from one another as much as they had from RandyValid point, but that handicap match was only 2 years ago.
Haven't really been keeping up with Smackdown this past year, so I haven't witnessed Cody's progression. But if they book Orton v. Cody and Cody doesn't win after losing in that handicap match, it's just going to seem like a WTF match in the Mania history books.
Cody has beaten Orton one on one on SD. He has beaten Booker T multiple times. He has beaten Rey at WM of all places one on one. He is much more credible.