The thing I like about the WWE way more than TNA is the fact that they tend to phase out their older wrestlers unless they're still physically in great shape and show minimal signs of slowing down. The ten oldest active competitors in the company are Undertaker (46), Kane (44), Mark Henry (40), Big Show & R-Truth (39), Christian (37), Rey Mysterio (36) and Alberto Del Rio, John Cena & Yoshi Tatsu (34). Other than Undertaker (who will probably have his last match at Wrestlemania 28) and Rey Mysterio (whose body is beginning to break down through various injuries) the rest have continued to do great these past few years.
With Foley, he's 46 and probably not in very good shape, so personally I want him to return as the Raw General Manager. The WWE can continue with Laurinaitis as the Interim GM for a few more months if they have to, but I'd love to see Foley get the job instead of making occasional appearances. I'm sure he still has plenty to offer in that kind of role and would really be an interesting GM, one that has a history of not being afraid to get his hands dirty.
On a side note, is anyone else sick of Long as Smackdown GM? He was great at the start, but now it has dragged on and his appearances are for making matches that I call before he even make his way out from the back.