I think that WWE should take this opportunity with My's reorganization to take Smackdown away from My Net/Fox and move to Tuesday nights, live on SciFi or WGN, and then move ECW to Friday nights on SciFi, WGN, or syndication (perhaps with MyNet) or just drop it all together. With a second 2 hour live show, WWE may be able to regain some of the steam they had pumping while competing against TNT's WCW. I also think that at least one of these shows should be supervised by someone besides Vince McMann, that way one show would have a different feel and appear as competition. The way it is now, if you watch Raw the other shows just drag on and on lacking entertainment value.
Another possibility would be that if Fox were about to loose Smackdown, they might buckle and offer to put it on the mothership FOX network, with some type of WWE Heat recap show on weekends on FX.
Another thing, I know WWE has an On Demand channel for this, but wouldn't a 60, 90, or 120 minute "classics" show, pulling footage from the whole library, do well on "free" TV? They could use such a show as an infomercial for WWE On Demand and they wouldn't have the production deadlines they currently have with Smackdown.