There are a lot of posts on here that I could "quote" but I won't, and instead I will just say what I have to say. I was really into wrestling when the NWO first came about in 96, and what made it so cool was that it was two huge superstars coming over from the other bigger more popular ogranization and acting as if they were there to destroy WCW's show. Many people still thought for a while that Hall and Nash were working for the WWF and that we were seeing a cross promotional type of show that had never been done before. This is why it was so compelling. Unfortunately, Eric Bischoff and the other creative wizards in WCW ran that angle into the ground by letting everyone into it and keeping it going for like 5 years with 10 different leaders and 40 different members. It was a great angle that was highly overdone and saw some rejuvenation when the wolf pac came about but then when Hogan and Nash had that infamous finger poke match where Nash dropped the strap to Hogan it infuriated many fans and people really started getting sick of that crap. NWO could never be done again to the level it was originally done.
Just as we are seeing with this terrible new version of DX. Unfortunately in that scenario, however, you have a born again christian who wasn't so with the original version, therefore DX can't be raunchy enough to recapture its originality. You are also missing other key characters such as Chyna, X-Pac, and The New Age Outlaws. I am tired of the DX angle and believe that the only reason they are still doing it is because merchandise sales are probably up. However, I also probably stand in the minority of people who are sick of it.
But my main point is, the biggest reason that you can't recapture the magic of the NWO is for two reasons, number 1) there is no other promotion right now that is drawing even close to a 2.5 rating with a show similar to raw. TNA just isn't there yet, and as I stated in the first paragraph what made the angle so special was the "hostile takeover" that everyone believed was actually happening. Number 2) The WWE already brought in Hogan, Hall, Nash, and X-Pac in 2002 or 2003 I believe and to say the least it was a bust. Some say bring them back to fued with DX? I think it would be a waste of time because it would just be a ressurection of the failure that already occured when WWE tried to bring back the NWO in 2002-2003 and it goes back to the fact that there is no one in their right mind that would beilieve that a hostile takeover was occurring. But who knows the shirts would sell again like hotcakes so maybe you do, maybe you don't, but as a fan of that time period I wouldn't watch because it would totally suck compared to what I enjoyed 10 years ago.