Let's look at the WWE attitude Era and the timeframe when the took back the Ratings from the NWO and WCW.
During that time, the WWE took a few homegrown stars such as Bret Hart and Shawn Michaels and mixed them in with some Rejects from WCW to retake the lead in the ratings from WCW. Guys like Triple H, Steve Austin, and Mick Foley were originally in WCW and weren't seen as star material. They were stuck behind Flair, Sting, Hogan, etc. Then next wave of guys came over because they were stuck. Guys like Jericho, Eddie Guerrero, Rey Mysterio, and Chris Beniot. They were behind Hall, Nash, Flair, and Hogan. At that time, it seemed like the WWE knew when to cut its losses and find blossoming stars elsewhere.
Can TNA copy the WWE's formula. The WWE has its Main Event picture pretty well established at this point. Cena, Jericho, Edge, Orton, Batista, HHH, HBK, and the Undertaker all seem to have a firm grasp on the Main Event picture for the foreseeable future. Instead of cutting their losses and releasing the Undertaker or telling HBK to hang em up, they have been letting guys like Helms, Burchill, Hardy, Anderson, Dinero, and Matt Morgan walk away.
Can TNA take these releases find their true niche and build success? Clearly TNA is not at the level WWE or WCW was when the Monday Night Wars were going on, but it is the only real option out there right now. If they were to find the next Stone Cold Steve Austin in the left overs could they gain enough ground to mount an attack on the ratings.
Personally, I think TNA should jump on Paul Burchill, Gregory Helms, Ken Doane, and DJ Gabriel. I think these guys could all find a niche in TNA. Burchill was very entertaining in FCW as the dangerous man character. I watched a few episodes and really saw some potential there.
Do you think that is the route to go? Should they continue to push the originals? I think AJ Styles and Samoa Joe can be the originals to mesh with some newcomers. Roode, Storm, Shelley, Daniels, and Kaz could be great to go with them too. Right now though, I would let the Nasty Boys, Dudleys, and a few others who are past their primes go. I would bring in a few free agents to fill the spots and try to find the next gem...