Jake is a real possibility given his appearance on Old School Raw a couple weeks ago. He looks healthy, probably healthier than he's looked since the early 90s. Jake never won any titles in WWE and while he had some success in other companies, Jake's character and the intensity he brought is what he'll be remembered for. That and draping those big ass snakes all over people.
I'd have no issue with Rick Rude being inducted. He was one of my favorites as a kid. I thought he was a lotta fun, especially on the mic. He had a significant run as IC champ, he was a big star in WCCW, Florida and WCW itself.
As far as Davy Boy Smith goes, I think there's a chance he'll be in the HOF someday, but not anytime soon. There's a lot of animosity between Vince and Smith's widow Diana. Back in 2001, Diana released a book called "Under the Mat: Inside Wrestling's Greatest Family" in which she basically tried to drag the family under the bus while airing the family's "dirty secrets." She especially elaborated on negative stories about the Dynamite Kid, Bret Hart and Owen Hart's widow Martha. Martha sued her, saying Diana had made irresponsible and inaccurate statements about the family. Bret Hart called the book an outright lie and "pornographic" in its exploitation. Diana herself would state that the stories in the book were twisted and completely changed from how she'd written them. When D.H. Smith was released from WWE, she reportedly went on a tirade against WWE. There's just far, far too much drama for WWE to deal with right now pertaining to Diana, who's done just about everything she can to milk the tragedies of her family for her own gain.
The WWE has reportedly reached out to the Honky Tonk Man several times but he's just never been interested. I think the guy's hugely overrated, longest IC title run in history or not. The guy was a clown, a glorified Elvis impersonator. He was memorable, I'll give him that, but I don't think WWE will be reaching out to him again this year.
Lou Thesz belongs in any wrestling hall of fame, no questions asked. From the late 40s to the mid 60s, Thesz was pretty much the man in the ring. Thesz's three runs as NWA World Heavyweight Champion, totaling 3,749 days, makes him the overall longest reigning champion in the title's history. I don't know if Thesz's wife is still alive, nor his three children, but I think Thesz will be in the HOF someday.
King Kong Bundy will probably find himself in the HOF someday. The peak years of his career was probably the early to mid 80s, especially during his feud with Hulk Hogan in '86. Never was overly impressed with the guy, but he was memorable all in all.
As for Owen Hart, just like Davy Boy Smith, I think he'll wind up in the HOF someday, but not in the near future. There's still too many harsh feelings and general drama between the family as a whole and Vince.
Demolition ruled the tag team picture in the late 80s and very early 90s. They have have been a rip off of The Road Warriors, with a great entrance theme, but they worked. When it comes to tag teams in WWE, very few were as generally successful and left as much of an impression as Demolition.
I don't see the Fabulous Freebirds being inducted soon. Terry Gordy's gone, Buddy Roberts passed away in late 2012 and Michael Hayes has become something of a pariah in WWE for the past several months due to allegedly making racist comments. If true, it wouldn't be the first time as Hayes, while drunk, reportedly used the N-word several times in regards to Mark Henry at Stephanie & Triple H's wedding many years back. Hayes hasn't been seen at WWE headquarters in months, and was allegedly "taking a leave of absence for personal reasons" according to a statement from WWE back in October. It's entirely possible that WWE has very quietly let Hayes go. The merits of the Freebirds go without saying and are deserving of recognition, but there's a ton of controversy surrounding Hayes right now so it probably won't happen this year.
I read a report a few weeks back alleging that Paul Bearer is to be inducted this year and that Kane & The Undertaker, or possibly just The Undertaker, would be presenting the honor or accepting it for him. Taker never appears as the WWE HOF and with talk of the entire HOF ceremony possibly airing on the WWE Network, a rare appearance by Taker to represent his long time friend and someone he'd known since his earliest days in the business would be a nice treat.
It'd be fun to see Lita inducted. She was one of the very few women worth watching in WWE during the Attitude Era, and really for more than the next decade following.
Also, there are reports that WWE plans, for the first time, to induct a wrestling match into the HOF. The match is the main event from the first WrestleMania in which Hulk Hogan & Mr. T faced Rowdy Roddy Piper & Mr. Wonderful Paul Orndorff with Jimmy Snuka & Cowboy Bob Orton in their team's corners. A report from earlier this week states that WWE is in talks with Mr. T and have reached out to him in the past, but he hasn't accepted. WWE would have little to no problem getting the other participants together for the ceremony.