WWE:
Good- Gives them more media exposure, which means more revenue. Twitter has worked out well for them so far. Not to mention WWE.com gives them more opportunity to sell merch than just at live events.
Bad- Obviously PPV loss. Secrets and backstage drama get released. Smackdown spoilers decrease potential viewers. Basically piracy and leaks are what hurt them, in one way o another.
Audience:
Good- Free tivo, AKA the ability to watch replays of any shows you missed. Information on wrestling schools and promotions if you are interested in making a career in the industry. I mean really, imagine trying to find out about FCW if you didn't live in Florida.
ity:
Bad- Depending on how you look at it, spoilers. Just a general loss of excitement that would come with surprise returns or plot twists if you watched it traditionally.