It depends on the division really, whether its the WBC, WBU or the IBYTUBCF The IBF belt was THE belt at 140 when Hatton fought Kostya. Just like Joe Calzaghe's WBO was THE belt at 168 before he fought Kessler. And Tarver's IBO belt was THE belt at 175 before he fought Hopkins. Whichever belt the true champion holds is the best really, and since that is often the RING belt, (with exceptions) probably the RING
So what you are saying really is that it's the fighter that makes the belt. This is why I feel belts are not necessary in most big fights. The people know which fights are for recognition as the best in the weight class. The Ring usually recognizes these fights as such, which is why they are the best!
Yeah pretty much, but its always nice to have a few belts on the line in the big fights. If I was a fighter though, I would want the WBC. No real reason, other than its supposedly more prestigious and looks pretty cool.
Having some recognizable belt on the line doesn't hurt, it is especially helpful to the average sports fan that is tuning in to "the big fight".