Bear in mind I don't watch the product much to none at all (other than keeping up with results and watching the matches of interest on the tube of you)
For me.
1) Get rid of the PG era. I see why they do it. Dollars speaks volumes.
2) Someone else mentioned it, the look of the arenas. I quite like the steel gate type railing as opposed the black railing they use. Just cosmetic, I know.
3) As I think it was BF said, brand split. Bring back the draft. This also helps fill out struggling PPVs as you can have the champs vs champs, brand pride on line, GM/GM type scenarios
4) Bring back realism. Thats why the nWo was intitally successful. I understand with the advancement in technologies since that period, it may be difficult to reach those heights. We need a shock factor too. For far too long, we can sit back and pretty much pick out the result, even some cases the ending for most of the show. Basically, wrestling is a soap opera with men in tights. Would our wives/girlfriends be able to pick out who has an affair with whom? (probably).
5) For me, stables. My favorite periods of wrestling circled around stables and stable fueds. Dungeon of Doom, 4 Horsemen, Ravens flock, nWo, nWo wolfpac, DX, DOA, the corporation, NOD, LWO, Job Squad etc etc.
6) I know this thread is 5 but we'll make it 6. Given the E has the rights to WCW, USE THEIR PPVS! You have such a lul between WM till about Survivor Series. Put in War Games, World War 3, Road Wild. THERE ARE PLENTY OF OPTIONS!