RAW
WWE Title: Shawn Michaels
He has the charisma/in-ring ability/mic skills to carry off one more run with the belt (wait till Trips comes back to do the DX thing).
IC Title: Orton
Rated RKO need to be ended. Edge and Orton are too valuable as singles stars to put in a team (for too much longer). Instead of looking at the IC belt as a holdover till WWE gold is won, have a really strong IC champ turning back all comers and then run at WWE gold again.
World Tag Title: Chris Masters/Kenny Dykstra
WGTT should be title holders as of now. But, with Masters and Dykstra floundering in the singles ranks, join them and start them slow. Build them with wins against singles thrown into a team and then put them in against a better team. With a powerhouse and a acrobatic wrestler, they could make a dynamic team, if given the proper time to develop.
Women's Title: Victoria
If they genuinely want this division to be taken seriously, Victoria should be champion. How do you let her decimate everyone, lose to Mickie, and then fade away? That's nuts. The gold should be around her waist for quite some time. Develop other "stars" to challenge her. Eventually one can beat her after repeated attempts or something, but Victoria's waist is where the belt should be right now.
Smackdown
World Heavyweight Title: Kane
Give the man what he deserves. (Maybe with a win over his brother. A heel turn for Kane?) Longer than one day this time. Yeah, he's great. Yeah he puts over other names so the business has some more stars. But, give him a belt and the legitimacy he deserves/needs so he can continue to push a few more names when his reign is over. Beating Kane doesn't mean as much now as it might have 3 or 5 years ago. (Regardless whether he was tagging up or not.)
US Title: Kennedy
Reign was rushed. Push was ended to soon. Give him the belt, more names defeated/defended against and then REALLY push him into the big show this time.
Cruiserweight Title: Chavo
Good way to get Rey back to the cruiserweight ranks is by having Chavo hold the belt when Rey comes back for revenge. Then Rey is the titleholder and back where he's better off.
WWE Tag Titles: Deuce & Domino
They really look good as tough guys. (Maybe it's just against L&K because they're so small, but, they can build that perception with time.)
ECW
ECW World Title: Three letters: Punk
I'd say Marcus Cor Von, but Punk's been here longer and is over so much more. (Plus, letting Monte come in and win straight away would make TNA look so much tougher than ECW and Vince doesn't want that.) Punk can be a good champ. They've made the Vice look really strong. Strong enough that he could win the belt and hold it for quite a while.