Hope this works well as a decent first post...
Different times, different eras...
For someone who was there through Backlund's reign and Angle's contributions to the Attitude Era, however, I'd have to say that Angle succeeds on both counts.
First, the dollars are incredibly larger today with national television contracts, pay per view, etc...than they were in 1978-83. So Angle has, by far, drawn more money.
But even if you take the differences in the business and the way it made money back in the old school era, Angle succeeds.
Backlund, on the other hand dare I say, was a failure that nearly destroyed Vince McMahon Sr's WWWF.
It took Jr. buying the company, taking the belt off Backlund and putting it on Hogan (along with every other notorious thing Jr did) to save the company. And saving the company was the obvious first step that needed to be taken before (or as part of) the national expansion of the WWF.
Now let me preclude this so that no one reading gets the wrong idea. Bob Backlund, in his prime, was an incredible performer. There were many nights I can remember sitting in Madison Square Garden finding myself in awe of some of the moves of this man.
He was athletic, versatile, limber and his strength was underrated as well. The man was incredibly strong.
But while the hotbed of MSG always enjoyed a big crowd back in the days before PPV, the business slowed to a crawl everywhere else. And, even with the reliable Garden crowd, Backlund always needed the sale of a 'special attraction' on the undercard which was either one of the umpteen returns of Bruno or Superstar, the latest feud of Andre, Superfly getting even with Albano, etc...and when the main 'attraction' was the Backlund match, it was by virtue of who his opponent was rather than Backlund himself.
It became clear within only a few months that Backlund didn't have the chops to carry the company the way Bruno did, or even the way interim champ Superstar Billy Graham did.
Case in point; the biggest show taking place during Backlund's reign as champion was Shea Stadium 1980. While it can be easily accepted that Bruno vs. Zbyszko in a cage would be a big match, Backlund didn't even get to defend his title in the semi-final. He was relegated to a mid-card match challenging for the tag titles with Pedro Morales.
The reason why Backlund, despite his lack of drawing power, remained champion for as long as he did was because Vince Sr. wouldn't back out of the handshake deal he made with Backlund to make him the company's champion.
While it doesn't sound like the smartest business strategy, Sr was willing to let his company suffer rather than renege on his agreement.
The gimmick they saddled Backlund with early on, "The All-American Boy", probably didn't help. Nor did the WWWF's seeming unwillingness to change, update, or alter that gimmick...which always left the poor guy looking like a man-child despite his incredible in-ring performance.
Perhaps they could have allowed him to change, or allowed the gimmick to "mature", and it would have salvaged things. But they never did...and business suffered.
In retrospect, from the perspective of WWWF 'business' strategy, Superstar Billy Graham had what would probably have been the best idea at the time...to have turned babyface and held the belt for another couple of years.
Seeing how it all went down, my guess is that had this idea come to fruition, Backlund would only be a blip in the memory of those of us who were fans at the time; someone who had a few decent matches on the mid-card; and never would have become champion.