I think they're waiting until Summerslam to give Triple H his title shot (HHH vs. Jericho at Vengenance would be good, but you know who'd go over). Vengenance might be Benoit vs. Edge (face vs. face?), or even Benoit vs. Orton.
While I'm enjoying the idea of a Raw PPV every month, its probably a bitch for them to book 8 feuds in four weeks with only one roster to work with.