I agree with you here. I personally liked the old NWA title belt that they used for the heavyweight championship, and I also like the newer TNA heavyweight title. It would be cool if they tweaked the old NWA belt a bit, maybe made it a little smaller, and used that as the Global Championship instead. In my opinion, the red strap (and the size of the gold plate) just looks gaudy.
Since someone mentioned the WWE US Title, I HATE the design compared to the old WCW design. To be completely honest, the WCW US Title was my favorite of all the belts at the time (10/15 years ago). I also really liked the WWF world title 10 years ago as well. Not the Bret Hart belt (the one they converted into the hardcore title), but the one the Rock held in the late nineties. I like the current WWE world title better than the "undisputed" belt they had years ago, but the current WWE world title is just plain LAME. I wasn't really watching wrestling when they changed it, was it Cena that "pimped" the belt back then? ...you know, by putting the spinner on it and all that? I like that they got rid of the spinner, but that "CHAMP" nonsense needs to go. It just looks like the kind of belt a ten year old would design.
The Global Championship should TOTALLY have a picture of the Earth on it, don't you think? Currently, it just looks like something that fits with the character of "King Booker" (with the crown & blue jewel and all), kind of like the Million Dollar Belt was back in the day. It just looks out of place on EY.