I daresay it could be a while before we see a return to the glory days. The current environment may be ideal for it, though. TNA are slowly but surely gaining momentum (and look to be signing Goldberg in the not too distant future). They're starting to create a few marketable stars (particularly Samoa Joe) and their ratings are improving.
On top of that, the ECW experiment could nudge things along if Vince lets Paul and the boys work it their way and with minimal WWE involvement. It'll draw in both old hardcore fans and a new generation of fans who can then spill over to other forms of wrestling.
The situation doesn't necessarily need TNA to put the WWE out of business, it just needs to draw in new fans and by doing so, force both companies to lift their game.
As for thuga's question, I like his promos and his matches, but it's hard for somebody as loved as Mick Foley to really get over as a heel in such a short time. If he's making a full time return, I daresay he'll be a major player.
MY QUESTION:
What do you think of the Spirit Squad?