Maybe you could do fantasy match-ups. Take a guy who is no longer in the fed and match him with an opponent that has a lot in common with them or was their total opposite or just wacky pairings and pick a winner at random.
I'd love this idea. WWE Magazine does a similar feature and they rank the competitors on three different features (Ladder match prowess, for example, or Charisma, or Finisher) and declare an overall winner.