Considering this is WCW 1997 2.0 (and that's a good thing, considering it was the single greatest year in pro-wrestling history IMO), the answer is easy:
1. Book Aces and Eights strong. Everyone wins. Members rarely lose, and when they do, they lose strong too (as in beat the shit out of the face after).
2. Keep pumping up AJ's "turn" and continue to pump up the "loner" factor.
3. Build, build, build to AJ/Ray for the TNA World Heavyweight Championship at Bound For Glory '13, when AJ can compete for it once more.
The success writes itself.
So basically do exactly what WCW did in 1997 minus the good cruiserweight stuff? Yeah......
There's a HUGE problem with one of the things you said. Aces and Eights looked like shit for months. Booking them strong now doesn't mean a whole lot and honestly, they don't mean a whole lot. They are all there to serve Bully Ray. Not one of them has an individual agenda or feud and they honestly have no purpose. I'd honestly rather Bully kick everyone but Devon, Taz, and D'Lo out since they did their job and now they aren't needed. Makes him seem like a dick and it gets rid of useless drones who are doing absolutely nothing.
But then there's the other problem. Starrcade 1997. By then, the nWo was supposed to get beaten but they didn't. What if TNA does the same thing and decides to keep a story going when it's run its course? That is ultimately what started the downfall of WCW. Do you want that for TNA?
I said this in my thread but I'll reiterate it here. If you do WCW 1997 shot for shot, people will catch on and go "I've seen this before, do I need to see it again?" Plenty will not call it good storytelling when not one part of the story is unique from the most famous superstable story in wrestling history. I'd like to see something different, anything different personally. If it's WCW 1997, I know exactly what's going to happen so what's my incentive to watch every week?
That's where the ratings come in. You might say the storytelling is good because you are nostalgic for it, but the casual fan will have seen it and think it's quite unoriginal. Some may just think it's not that good. Ratings do matter as now that the show is on the road, the goal is to get people to watch the show and want to go to the live shows as well as tune in each week so they could make money.
It remains to be seen if they will with this but it seems to me that TNA is doing what WWE did last year which hurt them as well. We know what the end game is going to be so why care about anything in between?