I could see Punk vs Foley at Hell In A Cell rather than TLC. Think about it in story line perspective. They've got this thing going on saying that CM Punk is not the best until he beats Cena in a hell in a cell. Well there's another person with ten times as much prestige in Hell In A Cell than Cena and that's Foley. It'll also give Punk heat by choosing Foley because he's a lot older, so he's got that same heat as anyone would when beating up a legend.
Foley is the one who "created" TLC, so that match would also have some value to it as well, but not as much as a hell in a cell match.