[promoter2003]

There's two sides here. What I would do and what I believe may have actually happened.

What I would do:

HBK drops the title to Austin, but the feud continues with the storyline that was used with Foley as Dude Love. HBK is Vince Mcmahon's chosen one and he tries to "Free Hall and Nash" just as HHH did. He ends up feuding with Rock and turns babyface when Vince finds his new chosen one in Dude Love.

HBK vs Rock at SummerSlam where we get something similar to the WM X ladder match, but this time HBK wins the match at MSG.

Rock goes on to win the title at Survivor Series in a rematch against HBK, but Vince screws HBK this time.

HBK enters the Rumble and is screwed out of it just like Austin with Vince winning.

HBK vs. HHH at WM 15 when HHH turns on DX for The Corporation.

From there anyone's guess.

In reality?

There would be some real power plays backstage to keep his spot. It would have been epic imo.

 

[promoter2003]

I don't see Vince choosing HBK as his guy seeing that just 2/3 months prior, DX was raising hell against the WWE

Vince chose HBK over Bret and even leading up to Mania Vince said he rather HBK as champion. HBK told him thanks, but no thanks.

With HBK losing he would go to Vince for help.

@XxAttitudeEraxX

I forgot about the dropping the ball comment. I think you're scenario works really well too.