Oh yes, according to some sources, it indeed may be Triple H vs. Shawn Michaels in a Hell In A Cell to settle their little rivalry once and for all in the main event at Badd Blood. Meanwhile, Chris Benoit may be defending his title against Kane in the semi-main event. After Badd Blood, HHH may be taking time off for his movie, but he'll be back in time for Summerslam.
Now this may not be the best idea ever, but when you think about it, it's probably the best that they can do. The HHH / Michaels feud has been needing to rest for a long time now, a Hell In A Cell match in the main event of a PPV would definitely do it, both of them don't need the title at this point, and it wouldn't make sense to have a Hell In A Cell match BEFORE a normal match, especially one with Kane involved. Besides, saving the Benoit / Michaels match for a joint-brand PPV is pretty clever, and would make a good final match for the RAW brand.
I didn't watch the show (last minute trip to see The Two Towers instead) so I won't spend much time trashing the storyline yet, but I read 3 different spoilers/reviews when I got home last night and was thoroughly confused by what went on.