I agree with Kaedon. While the comparison can't be perfectly made, wrestling is more mainstream than MMA. Mikeraw even went as far as mentioning other countries in this...the further you go from the US and Canada the less MMA matters to people. The same cannot be said about wrestling. Go to someone in Peru or Argentina and ask them if they know John Cena or Tito Ortiz, and they will answer Cena.
Also Mike, you keep saying WWE is entertainment....wrestling is ridiculized and is hardly accepted by the showbiz, and to most people it is seen as a sport, a fake one, but mostly perceived as a sport.
As for "Movies mean mainstream" argument that has developed. I see John Cena all over my TV with Subway and Gillete between others, I see Big Show on talk shows, I see The Mcmahons even getting covered on ESPN. The same cannot be said about MMA guys. And as for the Lebron example, yeah, he's not in movies, but he's everywhere with his sponsorship contracts.
And yes, UFC draws more buyrate, but that is because you have to wait months to see guys compete. Brock Lesnar wrestles this month and maybe until November/December we won't see him again. That motivates people enough to pay. Besides, from there, you can't really see the UFC guys anywhere. But, in WWE, why would I pay to see a guy I see a min of 2 times per week wrestle the same match he'll be wrestling either next month again (which they will intend I pay for again) or maybe even the next night (for free).
Should WWE keep Taker, HHH, Cena, Edge, Orton etc...in a schedule like the UFC, they would easily outdraw them.