I love this idea. ROH is notoriously patient, sometimes even overly slow, in making a title change involving their World Title. I can see the TV Title being a sort of try-out for guys who may be world champ material so they can get a run as a champion to see how the crowd reacts.
As for the actual tournament, I can see it going in a few different ways. Like RVDgurl said, Davey Richards is a very hot commodity right now, but with the Young Bucks leaving, Steenerico breaking up, and the Briscoes trying out with WWE, the tag team champs don't need to be splitting up right now and I think either of the Wolves getting the TV Title would lead to that.
Another possibility is an El Generico/Kevin Steen final leading into a feud between the two. I am a mark for both guys, so I think this would be awesome. Plus, either guy would make a great champion.
The final two possibilities are Colt Cabana and Kenny King. Both of these guys have gotten pushes lately and are at a point where they could hold a title, but not the World Title. Colt has always been really over and has been great since his return to ROH. King has been running with Aries and put out Jerry Lynn (I'm a few weeks behind on the show, just in case anything has changed) and would make a good heel champ.
I can't wait to see this because ROH needed another title, even though I also wish it would have been the Pure Title, and this really is a case in which any of these guys could walk out the first ever TV Champ.