As of the end of meetings today, Vince McMahon decided that ECW would take the place of Velocity.
In other words, the show would be taped prior to Smackdown every Tuesday and until a new time slot is secured in the U.S., would remain an internet property show. Velocity, at least for the present, would cease to exist. Negotiations are going on to attempt to get it on U.S. television.
Source:
http://www.wrestlingobserver.com/wo/....asp?aID=16136