a) Because David, like the majority of other OVW/HWA/developmental talent, wasn't up for the draft. (Lesnar, Mark Henry, and Rico are presumably being bumped up to the big leagues, but they're exceptions.)
b) Dunno. I think that'd be a pretty amusing angle, but then I'm a Test mark. Of course, just because Test shows up at Raw doesn't mean Flair has to book him, or even let him in the building, but he could always do a run-in. Maybe Vince will send him over to get the Hardcore title back from Raven.
I gotta disagree with you here. the 'TNA fans' seem to be the ones who want Hogan to win the belt from Sting. The TNA fans are the idiots who cheer him every time he comes out, no matter what the reason is or what he does.