Well Hogan did the right thing by giving up the title, but The Undertaker is the LAST person I would have liked to see him cough it up to. There is so much YOUNG talent that could have benefitted enormously from being put over Hogan, but then again, Hogan probably didn't want to do it. Egomaniac.
Angle has gotten over very well, but I agree, his current goofy heel gimmick won't get him over legitimately as a champion heel. But then again, no one cared when he turned face, so maybe this is the best thing for him. Besides, he's friggin' hilarious.
I think the best heel who was humorous AND crazy/dangerous was Piper back in the eighties. The man was a nut ball, still is, who actually cracked a REAL cocunut on Snuka's head without telling SNUKA!!! Plus he had a lighting fast wit before he went completely insane.
The WWE needs to change something because the rating continue to drop. While Hogan was getting 15 minute standing O's in Canada, hundreds of thousands, if not a million plus viewers tuned out. Hogan is not going to win any fans back or create any new ones, and neither is The Undertaker. And while I love RVD, he just isn't going to get over as a Champion. He sucks on the stick. Thats not good for business.
Honestly, I think the WWE needs to change direction completely. The public is simply tired of "Attitude". Its gotten old and the stars that made it so popular have gotten old too. The then WWF reached the top of the world by completely changing their product 6 years ago or so, and they need to do a 180 again. Base their product on in ring work with HEAVY focus on the titles. Get rid of the Euro belt too, and the Hardcore belt, unless they take the Hardcore division and make it HARDCORE. I mean tacks, barbed wire, fire, exploding electrified steel cage matches... the whole deal, and put the title up on PPV ONLY. Make it a MUST SEE event and go the whole nine yards with real hardcore wrestlers like Axel Rotten and Balls Mahoney and even Atsushi Onita if need be. I hate the current hardcore title, it means nothing the way it is now.
Other than that, I don't know what they could do to turn it around.