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I think the world champ's match should always go on last
The only alternative is the world title goes on first and you close the show with a gimmick attraction
And if it's not the match with the most heat then promoter should be thinking about getting the belt onto that heatseeker asap
A good booker would have scheduled that world title match to open the PPV, told all of the other midcard matches that they weren't allowed to go longer than Page/Cole or Punk/MJF, and then allowed the dog collar match to close the night as a bloody "unsanctioned" fight