The way I remember it in the old days of the Hogan Era where the lines were very clearly drawn between face and heel, the heels were generally the ones you expected to win because they were such bad asses. You knew the heel was a bad guy and that he was mean and that being said that he would do worse things to the good guy than the good guy would do to him because he was evil. That's when you had a Hogan who triumphed over the indomitable forces of evil, and why it was such a big deal for him to win, because the heels were really good heals.
Now as in the past everyone is supposed to be a bad ass with an ass kicking chip on their shoulder, so there's no real threat to either guy, just what each says they'll do to each other which you ponder the outcome of. I think the problem in the past has been that the lines weren't drawn so clear, and everyone was billed as a major bad ass. Now we are getting back to having monster heels whether they are more the aggressive or antagonistic type and faces that contrast them a bit better, moving away from the "everyone is basically a heel" area and things are getting better. Take a good look, the heels are heating up, and the faces are becoming the underdogs more and more opposed to each man just being some kind of wrecking machine.
I think part of the problem is that the characters are gone, and would no longer be accepted as they were. You used to have a variety because everyone had a character, something to distinguish them from everyone else besides the tribal pattern on their trunks. A lot of the wrestlers today are seeming more and more generic because there are no real distinguishing factors, no character.
As I mentioned earlier their always just supposed to be well built tough guys with an ass kicking chip on their shoulder, unless they are really trying to be face. Even then a lot of times the faces are just that for no reason, it has nothing to do with their character, it's just what creative thought would be good for them. Give me some personality, give me some character, I want a gimmick give me something feasible not some jerk-fuck like Eric Escobar who's basically a Razor Ramon rip off. These are my thoughts and observations. You may or may not agree with them, but I think they're pretty fucking accurate.