I personally do not feel it was a "World Title" - however, it has been accepted as such by the likes of WWE & Pro Wrestling Illustrated, both of whom count Flair's win over Barry Whyndam in June 1993 for the re-formed NWA Title (soon to become the WCW International Title) as one of his official World Title Wins. Therefore, it doesnt really matter what we "think" - technically it is validated by those in the process of maintaining wrestling's history as a "world title".
Personally, I thought the old Universal Wrestling Championship from the UWF should have been given World Title Status, that championship was defended all over the US and at one point was defended against both UWF & NWA/WCW stars (the company was bought by Jim Crockett Promotions, for awhile it stil operated as it's own entity but in coinjunction with the Crockett's main arm of the NWA, then in 1988 it was disolved and Crockett picked which UWF stars he wanted to keep, like Sting & Steve Williams). Unfortunately Pro Wrestling Illustrated never bestowed that recognition upon it and WWE has never addressed it, likely they never will.