You know, I always kinda liked Funk... As Kwee Wee in WCW, he sure didn't have much to work with but he seemed to give 110% and he was pretty good in the ring. Maybe he just needs a good gimmick to really get going.
Don't forget Tazz, Rey Mysterio, Dawn Marie. Eddie was also in ECW. I'd bring in Shane Douglas. He can cut some solid promos. IMO, they'll screw this up like they do everything else. They have a great lightweight division they're ignoring.