I could see the likes of Orton, Sheamus, Barrett, Big Show, Kane and Punk as contenders. It could be an interesting title for those that are not in the wwe/whc title picture and WWE would have something to work towards.
I can imagine somebody as Heath Slater being a "fighting champion" like Crash holly 12 years ago. If they bring back the title they should also reinstate the 24/7 rule.
That would also lead that people like Michael Cole, Natalya, Vickie or Hornswoggle also win the title