There is no talk of doing HBK vs. CM Punk and no talk of a potential tag match with HBK and Triple H vs. Punk and Daniel Bryan. If Shawn agrees to come out of retirement, WWE wants it to be for only one match and that match would be against Bryan. The segment with HBK and Punk on Monday's RAW was done so they could save the Punk-HHH confrontation.
Whether or not Shawn decides to return to the ring, expect to see a lot more of him on WWE TV going into WrestleMania XXX.
Source: PWInsider Elite
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