I feel the titles are being used properly at the moment. They are being used to elevate these mid carders into main eventers. Dolph has been IC champ for 5 months now, and he's had matches with Cena and the likes the last few weeks, which tells me he's on the verge of main event status. Daniel Bryan will be the same in time. After that, someone else from the mid card will step in to the IC/US title picture.
For me, WWE need not just another mid card title, but they need to create a whole new division. They need to bring back either the Cruiserweight title or the Light-Heavyweight title, and have superstars competing exclusively for that title. An idea would be to use WWE Superstars as a show especially for the Cruiserweight/Light-heavyweight division, and you would have a group of wrestlers from both rosters that are exclusive to that division. The likes of Evan Bourne, Yoshi Tatsu, Tyson Kidd, justin Gabriel, Primo Colon, Chavo Guerrero, JTG, Joey Mercury, Trent Barreta, Kofi Kingston and even the likes off Christian and Rey Mysterio to add prestige (let alone to keep Mysterio away from the WHC) would make for an excellent and exciting division, and it would give us a reason to watch Superstars and push the ratings up. A win-win situation all round!!