Well...there is this thread, started by yours-truly:http://www.majorspoilers.com/smf/index.php/topic,1076.0.html
I haven't watched the WWE in the last few weeks but it's sometimes enjoyable. I think it has lost its glory of yesteryear.
It doesn't waste our intelligence with farce like Papa Shango or Doinks the Clown. But instead it wastes our intelligence with farce like lame guest hosts and the same tired feuds.
Generally speaking, Smackdown will be a much better viewing experience for you than Raw. While Raw is 80% antics and 20% wrestling, Smackdown tends to be the reverse.
Wrestlers worth your time are Chris Jericho (who has all the necessary skills to be the superstar that he is) and John Morrison (who needs to work on his mic skills but is one of the most athletically gifted wrestlers I've ever seen).