For me the WWE has two options here, both with potential to be awsome so it's a win win situation for us!
First Option
They stick JBL as GM, he should never have returned to in ring wrestling but at the same time he deserves a bigger role then a announcer! GM of RAW fits his bill perfectly, he's as good as anyone ever as a heel, and we all know how good heel GMs are, i can imagine the kinda matches he'd create, the punishments he'd give out and alot more stipulation matches at PPVs, which can only be good!
Second Option
They leave it, much like the did last night, have the superstars create the matches, have JBL throwing his money around to get what he wants and let Punk defend his title every week against whoever may challenge! imagine, if Punk beats Cena, Batista,Rey, HBK, Jericho in the upcoming weeks, it would get him over as a credible present champion, and certainly a future champ!