There’s no doubt that people at Titan Towers in Stamford, Conn., were feeling a lot better after hearing the news that the rating for Monday’s Raw was back up to 3.3 after a shockingly low 2.8 the week before.

I said after last week’s rating was released that there was no need for WWE to panic, and I was confident that the return of Shawn Michaels would boost this week’s rating over 3. When Chris Jericho makes his much-anticipated comeback, the ratings will likely spike again.

The real question is, what constitutes a good rating for Raw in 2007? I think WWE would be satisfied with a 3.5 and thrilled with a 4.5. Those are realistic and attainable numbers. The glory days of 6’s and occasional 7’s during 1999 and 2000 are over. Everyone knew the boom period wasn’t going to last forever, and those numbers aren’t likely to come back anytime soon.

Here’s something else to keep in mind when discussing ratings. When Raw dips below 3, it’s a major story and all the WWE bashers act as if the company is about to go under. Of course, TNA officials would be doing cartwheels to get even a 1.5. The fact is that ratings are merely part of the equation in assessing the health of a wrestling company. Sure, ratings reflect how many people are watching a particular show, but as far as affecting the bottom line, they aren’t as big a factor as things such as pay-per-view buy rates and merchandise sales. Business might not be booming, but it isn’t hurting, either.