I laughed when I saw possible 3 of WWE biggest superstars as low card/ jobbers. John Cena, Ultimate Warrior, and Bruno Samartino.
Anyway, I don't do e-feds but I seems a couple of good ones. Here is what I reccomend. E-feds are fun if you have multiple people join. Either they take the role of a current superstar, or they make up their own. Its actually cool to make up your up gimmick, name, and moves. Now if you get other users to join, they will help you with creative ideas, and they do their own promos. In a way, you would just act as a bookie, where you decide the match outcomes, but the people decide the promos for their character. Its just fun that way.
Now as for storylines, I think you should make a stable, or two. When I saw Kurt Angle and Bret Hart, it was like a dream match. I say, if you can, make Team Canada (Bret Hart and Hart Dynasty, heck even jericho, edge or christian, and yes, I'm aware TNA had the idea already) vs Team Angle, or America, which could be Kurt Angle, Charlie Haas, and Shelton Benjamin. Team Canada would be the face stable, and Team Angle would be the heel stable. Angle vs Hart in a submission match. Hart Dynasty vs the team of haas and Benjamin. And for tips on promo, try to find videos of HBK insulting Canada. He did a great job with that. And if you don't want Haas and Benjamin, make Daniel Bryanson the American Dragon, and have him form a stable with Kurt Angle.
I say, make a second show. Armaggeddon, then have a second show. Then at some point, you can have a interpromotional match. Like Smackdown vs Raw. Stuff like that.
Then have you decided what kind of chairmen you are? If your a heel, I say for the first show, you hand pick all your champs that are heels and present it too them. This makes you the typical heel boss. If your a face, make it a tournament for the titles. And this is rare, but I say add a hardcore title. The 24/7 rule. I can picture a lot of great promos and matches with that.
Now I saw your roster and noticed that its pretty one sided for the faces in the category of main-eventers and midcarders. I saw on your first show, find a guy with a lot of history as a face and turn him heel. Have him align with heel or something.
For the divas, a Ms. PWU battle royal? I'm not sure.
I say bring in Chavo Guerrero to form Los Guerreros. Have them vs the team of Evan Bourne and Justin Gabriel (make them a team). Plus with Vickie as the GM, this would make their heel character great. Maybe something similar to the La Familia storyline. But I would add humor to it because of Eddie's lie, cheat, and steal persona.
In between matches, put a couple of mid-carders and squash matches. Like RVD vs Ultimo Dragon for the Japan title. Maybe L.O.D vs Team 3-D for the tag titles? A tournament for the high flyer title with Hardy, Evans, Kaval, Amazing Red, Rey Mysterio. etc. Its really your choice and who you want to push.
Then for an explosive main event, I say Brock Lesner vs Randy Orton vs The Rock vs Chris Jericho for a #1 Contendership for Undertaker's title (this is if you are a face GM and had Taker have the title. If your a heel GM, make its a big time heel)
Just a couple of ideas.