Redhawk, this is my take on it.
Long title reigns work when the champion comes out looking stronger out of it...AND the challengers as well. Ric Flair's long title reigns worked well because quite frankly, he worked great matches and in every single one of those matches he sold for his opponent to the point that it seemed he was going to lose it at any time. That isn't the case with HHH's current reign. He's made to be on a higher level than any of his challengers and when they do face him, he proves just that by burying them.
Dames