I'm really excited about this network, but I'm not getting my hopes on it ever actually happening. At least not as a TV station. They're already talking about making it a joint venture with Verizon or something. I don't even know what that means, but I just doubt we will ever see a WWE TV station, at least not in the traditional sense.
But if they do, I would gladly pay the extra money to get the package it comes with. I'd be watching it all day. It'd be awesome if they were open to showing indy feds like Ring of Honor on their network, although that's a big stretch.
I seriously doubt Raw or Smackdown would move to their network, because USA I believe is the highest rated cable network in America. And Raw I believe is the highest rated show. There is absolutely no way it could maintain even close to these ratings on a WWE TV channel, because I'm sure it wouldn't be available with most TV packages. The basic cable package comes with USA, Nickelodeon, TNT, etc. The big channels. The more expensive the package, the more channels it comes with. I would imagine the WWE Network would be on one of the more expensive packages, because I just can't see it being a basic cable channel. So it would only be available in a small percentage of homes. So WWE might play reruns of Raw and Smackdown, but I don't see the live episodes leaving their current homes anytime soon.
As far as what they show on the network, the possibilities are endless. Old pay-per-views, old Raws (or best of Raws, i.e. Best of 1995) NXT, Superstars, compilations from their huge video library of non-WWE feds... It really is endless. I would be so addicted to this.