Either End the Brand Extintion or focus on making Smackdown better. Give Kurt Angle, Kane, Shelton Benjamin, Matt Striker, Rob Conway and when spirit Squad breaks up (Mitch & Nicky as a tag team)
On Smackdown I'd turn the Cruiserweights into a X-Division type setting with more competition. Move Kennedy up to main event level. I'd start a Batista/Angle feud for the no. 1 contendership. Have Booker T./Batista feud after, until that Kane and Booker for title.
On Raw I'd break up DX and let Michaels heal. Take the McMahons off TV and let a new GM take over. I'm thinking Rick Steamboat or Dusty Rhodes. Some 80's star...Ted Dibiase would sooo own. Then turn Cena turn heel. I'd have Triple H feud with Orton and Cena through fall. Edge would feud with Carlito to build him up. Then move to a Edge Triple H main event at Survivor Series.
Bring in Harry Smith and other stand outs on indi scene. Colt Cabana would rock on Mondays
Beef up Women's division and make Tag Division a focus. I'd sign a few more talents from indy/TNA. Make Johnny Jeter and Kenny Doane the new top tag. I'd make Mike Mondo the comic wreslter and watch his popularity sky rocket.
ECW- I'd actually continue the Heyman anti-old ECW storyline. I actually think it will turn into gold when RVD returns.