One problem with this...Dolph needs new opponents urgently! Because the same faces in the same matches, despite the quality wrestling, is starting to become stale.
Big Zeke and Chris Masters need to step up to the plate quickly, And I expect that Big Zeke is being groomed to be a monster, for Dolph to get over fairly. Then with the face turn, he can have a raft of new opponents.
Actually, I can see this push being totally derailed, if Jason Novak is eliminated from NXT - Vickie needs to cheat on Dolph to remove the heat, since he has played the nice guy recently, trapped with the bitter and twisted girlfriend.
As to a very long term championship - well, as I see it, the WHC is for the senior wrestlers (as in over the hill wrestlers), with some youth added to make it look relevant.
If the brand split ended tomorrow, I would say, it would be the most hotly contested championship, with the best matches in the WWE.
But I expect Dolph will be drafted to Raw, with the belt, and whoever has the USA belt at the time, will be drafted to smackdown - it will not be Bryan though.