Wow, some heated discussion here then! I really wish you had put someone (specific) in the poll, maybe Faarooq or Savio Vega because it would have made it a damn sight easier to pick a loser.
And as much as I would have disagreed until the cows come home before I read this thread, I now have to agree with those who said
The Undertaker
It's odd really because when people say 1997, you really do instantly think of "Austin" "Bret" "HBK" "DX" and "Screwjob" and the ol' Deadman gets somewhat forgotten. But let's break this down:
HBK: Generaly had a good year, held the WWF and European titles simultaneously (remember the european title?), Won the WWF title itself twice, and got to put one over his big rival Bret. Along with Austin, DX helped bring in the new "Attitude Era". All that said however, he did miss a large part of the year trying to *ahem* "Find his smile" which some see as his refusal to drop the title to Bret at Mania. Plus, he was a heel during the later parts of the year.
Bret Hart: Would probably be most people's automatic choice, given that once Hogan left the company, WWF=Hitman Country. But the crown was slipping, HBK and HHH were so-say in McMahon's ear and Vince's initial desperation to keep him (his contract that he signed in 1996 was to run up until 2016) turned to a willingness to release him to WCW to free up money. Time and again when Bret looked about to return to the top of the game, he was thwarted. Controversially defeated in the Royal Rumble, and throwing a hissy fit during the Main Event of Wrestlemania, he was eventually turned heel as the leader of the New Hart Foundation. Won the WWF title twice, and was screwed over at the Survivor Series.
- Both Shawn Michaels and Bret Hart were, I believe, too inconsistent in their "alignment" to be marketable (I know marketing has already been explored here) as the true face of the company. While The Hart foundation were Heel and Shawn Michaels was still a face in the USA, in Canada and the UK (I can't speak for the rest of the Commonwealth however) the reverse was true - Bret, Owen and Bulldog made them popular outside of the USA, and when Michaels beat Bulldog for the European title in Birmingham, England, he was booed out of the building and littered with trash.
Stone Cold: The rising star of the company at this point, hit the big time with his famous "Austin 3:16" speech after winning the 1996 King of the Ring, and became a solid competitor in the Intercontinental title rankings feuding with the Rock and the Nation of Domination. As far as 1997 is concerned, Austin was on a real roll. He was #1 contender a number of times without actually winning the title, and of course he won the Royal rumble in somewhat controversial fashion. Lost to Bret Hart in a brutal submission match at Wrestlemania XIII, he was undoubtedly one of the most popular superstars at the time despite being intended as a bad guy. No matter how bad they made his character, the fans kept cheering. But while the Attitude era is considered to have begun in mid-1997, it wasn't until another Rumble win and subsequent title match victory at Wrestlemania XIV over an outgoing Shawn Michaels that the Age of Austin truly begun.
The Undertaker: The winner by Michael Jackson's nose here I think. The main reasoning is because he was a consistent good guy, instead of flim-flamming in between or being face in one country, and heel in the next. Involved much like the other three in heavy-hitting storylines all year long, firstly as one of the final 4 in the Royal Rumble, to being the last man eliminated in the Vacant WWF title match in february after HBK left. From there, he went on to beat Psycho Sid for the Title at Wrestlemania XIII, and defended it against Mankind, Stone Cold, Faarooq and Vader before finally dropping the belt to Bret Hart at Summerslam. Was then involved with Paul Bearer, and the debut of his brother Kane. his year began to slow down somewhat at this point however, he wasn't at the Survivor Series and lost to the returning Jeff Jarrett (complete with shiny silver cape) by disqualification after interference from Kane at In your House: D-Generation X, which began to set the stage for their eventual showdown at Wrestlemania XIV.
So there you go, my 2 cents worth (and more) but I believe that if you are going to say was one guy alone the face of WWF in 1997, it would be Undertaker. Not by much, and Steve Austin is certainly a valid pick himself. Maybe it should be Austin... no, I've said Undertaker and I'm sticking by it. See how hard this is? But HBK and Bret, their best days were behind them (although HBK did enjoy a lot of success after his return in 2002) and Bret was apparently too much of a persona non grata at WWF headquarters to make him the sole star any more.