Simply AWESOME chapter! I'm really glad that the New World hasn't turned out to be a rehash of the Grand Line- when Luffy and his crew first entered the Grand Line they were still quite capable of owning everyone they came across, despite the hype. The New World, or even just the bordering area of it, has so far been completely true to the hype about how powerful the enemies were and I can honestly say I'm pleasantly suprised.
This chapter brings up a few interesting questions. The most prominent of which are:
1. How, or indeed, will Luffy and his crew escape? Will they be rescued? Will they not escape and be brought to Impel Down? Will their opponents be summoned elsewhere?
2. How can Rayleigh fight so capably against a Logia fruit user? Even going so far as to be able to cut Kizaru with a random sword (though I suppose the sword could be seastone or something like that).
3. Where the hell was Zoro teleported? And why was Kuma there in the first place.
My theories are as follow:
Luffy and co are obviously going to live. My guess for right now, with the huge overshadowing of the World Government and Whitebeard's crew doing battle, Kizaru and Sentomaru are about to be requested back at the headquarters or wherever Whitebeard's fleet is headed. Given the fact that Rayleigh and Monster Point chopper are still are more trouble than they're worth to bring down right now (I'm assuming Monster Point Chopper would be pretty lethal, anyway) the group just decides to screw capturing the Strawhats at all and head to their requested location. It's also possible that the Strawhats don't escape, but I find that possibility a lot lower simply because they can't very well get captured and not sent to Impel Down. If Impel Down matches with its hype, then the Strawhats won't be sent there and then just break out willy-nilly like they did in Enies Lobby. The only way I could see them getting out of Impel Down is, again, if maybe Whitebeard broke into the place to free Ace and the strawhats escaped in the ruckus. But this would be a pretty major diversion from actually getting to the New World where the Strawhats could just stay on the Archipelago
As for Rayleigh and his ability to harm Logia, hopefully that will be explained to the crew after this bout. I'm with everyone else here in thinking that it's Haki. I have no particular aversion to Haki being implemented as a way to fight logia. So long as the explanation makes sense, well, One Piece just becomes similar to all other Shounen since DB/Z in having some kind of energy manifestation which can be used for battle. Although it really should've been expected as Oda seemed to have given Logia invulnerability, so an evolution of fighting abilities to where non DF users like Shanks, Mihawk, and Garp who are top tier fighters would be able to harm other DF users is inevitable.
Finally, Zoro. Zoro, Zoro, Zoro. Hopefully we'll get an immediate answer to this question, or at least within the next three chapters or so. My best guess is that Zoro was taken to Thousand Sunny, where he's collapsed in a heap and unable to move, or he's taken somewhere else he may have desired to go, and, also, a place where he Kuma was sure he couldn't escape from- to Mihawk. After all, if he wanted to go on a trip, he'd probably think to go to those places. I'm not in the Impel Down camp because that's not exactly a place he'd want to go, and I don't think that question's for show on Kuma's part. And Impel Down seems so out of the way… Not to mention that, again, the Strawhats just aren't strong enough to storm into such a prison and bring Zoro back- not when it's an underwater prison and they don't have a coated ship. If Zoro was truly taken there it would probably be an arc or two before Impel Down was even set up, and I just don't see Oda keeping him out of the crew for that long.
Just my two cents... Plus tax.