As an old diehard ECW fan, we were given the hope that it was going to be Paul Heyman running the show and said that it had to be Paul E.'s baby or it wasn't truly ECW.
Obviously, it's not Paul E.'s baby.
That being said, the pieces are all there for ECW to be significant. Enough of the older guys to bring about what ECW was all about, some up-and-coming young talent, some hot chicks (well, Ariel at least).
Two things are killing it for me: The insistence on pushing guys like Test who weren't any good in WWE either, and the fact that ECW rules are only in effect once a week on an ECW show.