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I like the WWE Underground name. Watching ECW, I actually got the idea "WWE Platinum" or something like that. I don't know if an FCW-style show will work. I mean, from a ratings perspective? I think they should try to make ECW more of a force if they want to get noticed.
Move Jim Ross, Rey Mysterio and R-Truth over, and hope that they take enough of a following and breathe a bit of credibility in. Perhaps The Great Khali as well. To be honest, it also feels that Matt Hardy is getting a bit lost on SmackDown!, as is MVP on RAW. Send those two over there. Perhaps even Dolph Ziggler and Jack Swagger, as well, since the WWE has apparently "lost interest" in pushing them. Kane has been booked well on SmackDown!, but you could make him a bigger star on Underground. Dare I say it: Have Edge return to the brand, saying that he wants to revolutionise the WWE and its newest show. He can team with Christian over there.
Re-package guys that aren't doing anything and send them there, too. Jimmy Wang Yang, perhaps under a mask, kicking ass. Funaki could be a similar deal. Curt Hawkins isn't doing anything -- a mid-card feud with Zack Ryder could actually be very entertaining. Carlito and Primo could head over and do something more important over there. Well, one or the other.
And for the love of God, make their title a "World Title." That way people will care about them a lot more. Also see if you can give them an extra hour or something. I mean, imagine a proper third brand with the following roster:
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