Re: Sheamus or Punk - Who is the more credible champ?
I think the issue with "credibility" comes down more to booking. Sheamus has been booked as basically unstoppable, which makes him credible.
For the first part of Punk's reign, he was playing the guy who'd stand up to anyone and overcome them. He was definitely "credible." Now, they've essentially turned him into the Miz, so Sheamus is obviously going to look stronger by comparison.