I think determining the winner of this match should be very simple: TNA has....a month until Bound For Glory? If they can figure out something contract-wise with him, then he should win the title. If they can't? Well, he should still win the title and then drop it elsewhere before he leaves, because there's nothing left to do with Aces and Eights. Keeping the title on Ray simply keeps the group afloat longer, and they've long since run their course.
They're beginning to show signs of disbanding already, as last night, Bully Ray defeated Mr. Anderson in a brutal(and very good) Last Man Standing match. Afterwards, Ray piledrove Anderson onto the stage, presumably writing him off television now that his contract is up or close to it. But with Devon gone and now Mr. Anderson, who's left? Ray, Bischoff and Brisco, Knux, and....Tito Ortiz? They bypassed Chris Sabin's rematch(as far as we know) in order to have "One of Ray's own family" challenge for the World Title, then had said challenger destroyed in what appears to be his last night with the company. For what other reason would they do that other than to kick the disbanding of Aces and Eights into overdrive?
Involving Hulk Hogan in the storyline of the match would be a mistake. His "vested interest was when his "little girl" was involved with Bull Ray. Now that Brooke Hogan is gone from TNA and Ray's moved on to a different Brooke, the focus should be on AJ and Ray, not Hogan in the middle. Do I have faith that's how it will play out? Not at all. If his back allows, I wouldn't be surprised to see Hogan insert himself as ringside enforcer, or worse, referee. That would be a mistake, as everyone would be waiting to see what happens between Ray and Hogan, rather then investing in the match between Styles and Ray.
Remember when Aces and Eights offered Styles a spot, but as someone who would have to earn his cut? As someone who would have to start at the bottom? Start from there. I think part of the storyline trajectory will be determined by how the Styles/Dixie Carter confrontation plays out next week, but I'd have Styles prove himself better then every member of Aces and Eights, one week at a time. If he truly wants to ensure no outside interference, have him injure each member, one week at a time, until it's only Ray vs. Styles for the title.
This should be a good match. Ray has shown himself, since losing weight, to be a very good single's competitor who's ring psychology is very good. His big man/little man matchups before over the past year with both Jeff Hardy and Austin Aries alike have been very good, and I consider Styles a better worker then either man. So if they find a way to keep Aces and Eights from interfering and leave Hogan out of it, the best way to go here is a simple one-on-one match for the World Heavyweight Title. Styles earned his shot, and Ray's the champion.
That story works more often than not, but if they want to go the 'personal' route, use the fact that the club demeaned AJ by offering him a lower-tier spot within the group, and he was insulted and vowed that day to get back at them. What better way then by picking them off, one by one, then winning the World Title?