Was the ECW belt considered to be a World Heavyweight title in the WWE?

[GD]

Here are two examples.

#1. Chavo participating in the 2008 Royal Rumble match although he was the ECW Champion back then. Correct me if I am wrong, but when was the last time a World Champion entered a Rumble match?

#2. On Morrison's dvd, a fan asks him whether if he thinks that he would win a world championship in the future? Considering the fact that he had already won the ECW strap.

(http://en.wikipedia.org/wiki/John_Hennigan)

During that time, he won the vacant ECW World Championship once, which was his first world heavyweight championship.

[Jeritron]

It was at first for sure, but it eventually evolved into a title of debatable status. What meaning does a title hold other than that which is attached to it by the company/fans?

I think it's fair to say it ended up ranking somewhere between IC and World status for most of it's tenure.
As you pointed out, it stopped being called or considered a world title eventually. Early on, however, it was definitely treated as such when Big Show held it, and participated in a world champions fued with Booker and Cena.
Also, they entertained the possibility of Undertaker using his Royal Rumble shot against Bobby Lashley in 2007.

[BigDaddyCool]

I thought you left.

[St. Jimmy]

Yes, the Royal Rumble winner could've chosen to face the ECW champion at wrestlemania, making it considered a world title.

[Jimmy Cones]

I contend that it may have ended up being lower then the US IC belts. My reasoning is that Swagger had the ECW belt before going to Raw where he has yet to with the US belt. Although I would concede that Christian having the belt (until Jackson) may have raised the status back up a notch.

[thedamndest]

Who could forget that at Cyber Sunday 2006 the ECW World Title was a choice in the Champion of Champions match between Big Show, King Booker, and John Cena?

[Jakob Synn]

They should of made the ECW title into a TV title like in WCW therefore creating a push for Ezekial