One thing I'd like to bring up about ECW:
It is a brand for new guys to debut, and for veterans to help them out, but one thing that bothers me is that there is no real "go-between" for them. Looking at the current roster, the only guy who really screams out as someone who doesn't seem out of place holding a World Title belt, is Christian.
I mean, who else is there? You've got solid veterans like William Regal and Goldust, but they haven't been established enough to hold a World Title. Who are you going to feed to them to make them look capable? The young guys? Speaking of which, you give a guy like Sheamus the ECW Title, and he looks good, fair enough, but is he ready? He'll then go over to RAW or SmackDown! and win the US or IC Title, and the cycle continues. The ECW Title might as well be the FCW Heavyweight Title if this is the case.
Maybe the WWE should use ECW as a stepping stone between some mid-carders on RAW or SmackDown! before they then go on to one of the "big show's" main event scene? For example, he might not have too much fanfare here, but Cody Rhodes, in my opinion, would make a pretty fine ECW Champion. He's got some big wins in his career (technically holds victories over guys like John Cena, Batista and most notable a pinfall over Triple H), has been with the WWE for a little bit, has held other titles, and is someone that the WWE probably has a bit of faith in.
Move Cody Rhodes to ECW after perhaps a short reign with the US Title, and then let him win the ECW Title there. He'll have some credibility, and he's got a built-in feud with Goldust, who he can elevate to ECW Title level, so there is another guy in ECW's top tier. Right now, I think the only guy with some credibility who can reach down, is Tommy Dreamer. If he puts over Zack Ryder, William Regal or Shelton Benjamin then that could work. Someone life Kofi Kingston could really use ECW as a stepping stone between being the perpetual mid-carder that he is, give him a technical "World Title" reign, before he moves up again and perhaps feuds with CM Punk, given their history.
But that involves a lot of brand tennis, with talent as balls. A second tier title in ECW could accomplish this on its own, and sort of set-up ECW as its own functioning brand. Hell, eventually they could get a second hour, with guys like Curt Hawkins, Jimmy Wang Yang, Primo Colon and Jamie Noble not really doing anything too pressing on their current shows. A Zack Ryder vs. Curt Hawkins feud over the ECW TV Title could be pretty cool, and doesn't really have a chance of imminently happening on RAW or SmackDown!.
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