He has been champion before, but he's never been the golden boy.
Worth noting here is that all 3 of Punk's World Titles came via MitB Cash-in (twice) or mandatory rematch clause (once). Title matches WWE was contractually obligated to give to him. He has never been given a 1-on-1 PPV title match through any subjective means by any authority figure. WWE has never once granted him #1 Contender status.
EDIT: Until now, of course.
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Thank you, Eddie Guerrero.
http://i.neoseeker.com/n/2/nintendo_quality_seal.jpg