WrestleMania looks to be:
Cena vs. Miz. Several weeks ago the idea was Cena vs. Punk, but that got changed. It won't be a five-star classic so the best the company can hope for is that people will care about it. To me they would care a lot more if Miz was actually built up as a deserving champion as opposed to what he is right now, the worst-booked champion since Jack Swagger. Maybe the idea is that everyone will "know" Cena is winning at the biggest show of the year and that will convince them to buy. Problem is, this is WrestleMania, and you need something larger than life, and at least right now this doesn't feel all that big. But they've got two months.
Randy Orton vs. CM Punk. This also seems like a solid match, but nothing that feels larger than life. Punk cost Orton the title at the Rumble, and they furthered the storyline on Raw Monday. The good news is that Orton, despite a series of boring main event matches since turning babyface, is super over with the fans and protected like no one outside Cena, and Punk is a great heel who can talk. If they don't overbook this to death, which is always a concern, there could be something special there by the time Mania rolls around.
Alberto Del Rio vs. Edge. Del Rio is seen as the biggest homegrown star they've created in the past few years, which is why he's gotten the spot. He's not a great worker but he looks good, has a fun gimmick, cuts entertaining promos, and can project the aura of a tough guy when need be. Ricardo Rodriguez also adds a lot to the act. The angle they did on Raw where Del Rio hit Edge with a guitar and put him in the cross armbreaker was great, but the impact was lessened when Edge was largely fine an hour later. If they try to do 30 angles in the next two months it'll be a big mistake. But the first angle they did was really fun and showed that there is a lot of potential in the feud.
Undertaker vs. Wade Barrett. This is plan A if Undertaker can return in good enough shape to do a singles match. If he can't, the plan for several months has been Undertaker & Kane vs. Corre (Nexus originally). And yes, Undertaker teaming with Kane makes absolutely no sense. Hopefully they have a good angle to explain it. Undertaker, whose recovery from rotator cuff surgery has been slow, says he'll be at Mania and the company is counting on him.
Corre vs. Nexus in a six-man provided Corre doesn't end up in the Undertaker match. This would mean Ezekiel Jackson & Heath Slater & Justin Gabriel vs. Mason Ryan & Michael McGillicutty & David Otunga. This one sounds scary.
HHH vs. Sheamus. HHH's planned return has been bumped back almost a half dozen times since the fall, and the latest is that he'll be back around Elimination Chamber to do the six-week build to the match with Sheamus. There was minor talk after Rumble of doing King Sheamus vs. King Booker for a three-week program, but that was dropped.
Money in the Bank. They've gone back and forth about whether to do this match on this show and the latest we heard is that they'll do it. Rey Mysterio will be involved and probably the other obvious candidates such as Daniel Bryan, John Morrison, Ziggler, Big Show, etc.
They also will likely do something with Jerry Lawler, perhaps Lawler vs. Alex Riley with Michael Cole as referee (Cole has been training at FCW, taking bumps, and doing refereeing gigs), or perhaps even Lawler vs. Cole with some sort of stipulation (I'd personally do if Lawler wins Jim Ross returns to commentary, but I wouldn't hold my breath on that one). They teased Big Show vs. Kevin Nash, which was an audible at Rumble based on the reaction Nash got, but that's far from set in stone. The women will surely be involved in a battle royal or gauntlet of some sort as well.