How is this for an idea? It is probably crap, but anyway...
Why not have RAW and SmackDown! alternate shows? Have a new name created for each brand, then have one of the brands (say RAW) has its talent appear on RAW, SmackDown!, Heat and Velocity for that week. Have the other brand (SmackDown! in this case) do house shows for that week. The following week things are swapped around, so RAW and SmackDown! feature SD! superstars, while RAW goes on a house show tour for the week.
Maybe even have Experience, Bottom Line and Afterburn used in there as well. Maybe as the brand not using RAW and SD!'s shows for the week?
If that doesn't appeal to you, you could have that "live" slot alternate. Every second week have the RAW slot go to SmackDown!, and the SmackDown! slot go to RAW. The Heat and Velocity timeslots could be swapped as well, but I'd leave them as brand exclusive shows where they are.
This sort of gives the brands more of an equal opportunity, and can allow for more time for storylines. Of course PPVs would need to be cut with my first idea, but is that really a bad thing?
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