I think the booking was pretty strong in 1991. There's not an awful lot I would change. I think the key to Ric Flair meeting his full potential would have required the WWF to do so many things that were so anathema to their way of doing business that I'm not sure it could have possibly worked the way we always imagined Flair vs Hogan in the 80s. It's just hard to picture a top heel showing up without Heenan or Perfect, with them presenting it as "He doesn't even work here", uttering the initials "N-W-A" and acknowledging history outside the company. The only things I'd say that I think were more possible within their self-imposed confines that they didn't do were let Flair wear a suit more often instead of wearing his robe and gear all the time, even when he wasn't wrestling, and maybe not teaming him with other heels at Survivor Series where he becomes just a guy on the roster. For all the times they met, we never saw Flair presented as Hogan's equal in the buildup to any of their matches. I realize he's not, but feeding that perception was the key to making the feud work as much as it could.
The WWF seemed to realize an in-house manager wasn't the best route and tried to bring in Cornette, but Cornette wasn't interested, and I guess there weren't a lot more options out there.